CAPCOAL SURFACE OPERATIONSAnalyst & Investor Site Visit – Australia 27 October 2011

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Reserves - Anglo American Share, Excludes Callide

Coal Inventory: Occurrence of coal of economic interest which forms the physical envelope that encompasses a Coal Resource or Coal Reserve, or both, and includes Reconnaissance, Inferred, Indicated and Measured Coal Resources, together with any associated Probable and Proven Coal Reserves.

These data represent tonnage estimates compiled in accordance with the principles and guidelines of the JORC code or NI 43-101 by a Competent (Qualified) Person or Persons.

Due to the uncertainty which may be attached to some Inferred Mineral Resources, it cannot be assumed, but normally would be expected, that a major part of an Inferred Coal Resource will be upgraded to an Indicated or Measured Coal Resource as a result of continued exploration.

DISCLAIMER

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OPERATION OVERVIEWTwo mining areas – Oak Park and Lake Lindsay

• Large scale tier one metallurgical coal deposit• 70% ownership in joint venture with Mitsui Coal• Estimated coal inventory of 1,500 Mt with

reserves of 217 Mt• Key operational data

– Capcoal Open Cut forecasts more than 6 Mt ROM of hard coking and PCI coal in 2011

– Strip ratio of: 9:1 (average), CHPP yield 71%– Key equipment includes 2 draglines, 1 rope

shovel, 5 excavator fleets– Key export markets are North Asia, India,

Europe and Brazil

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2007 2008 2009 2010

ROM ProductionMt

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Timeline • 1977 – Capricorn Coal Developments JV formed• 1979 – German Creek Mining Lease Granted• 2000 – Acquisition by Anglo American• 2002 – Lake Lindsay deposit purchased in 2002• 2004 – Oak Park commences operation• 2006 – First Lake Lindsay Coal produced• 2008 – World’s first AC drive 8750 dragline engaged at

Lake Lindsay• 2011 – 4100XPB Rope Shovel commences Lake

Lindsay

HISTORYAcquired by Anglo American in 2000

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LIFTING SAFETY PERFORMANCE

• Significant improvement in 2011 driven by

– Focusing on fundamentals

– Visible Felt Leadership

– Contractor management

– Managing new employees

– Surface traffic management compliance

– Managing musculoskeletal injuries

Implementing the site Target Zero Action Plan

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2009 2010 2011

TRCFR 3.1 3.1 2.0

Capcoal Open Cut Total Recordable Case Frequency Rate

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OUR PEOPLEEmploying more than 1500 people across the Capcoal complex

• 45% of the Capcoal Surface workforce is residential with 55% drive in drive out (DIDO) or fly in fly out (FIFO)

• Managing industry wide challenges– Flexible work arrangements including FIFO– Developing an accommodation portfolio to meet market

demands– Developing unskilled labour

• Incentives to attract and retain employees– Incentive based performance payments for the workforce– Implementing front line leadership and management

programs for supervisors– Ensuring remuneration is competitive in the marketplace

• Supporting sustainable growth of Middlemount community– Anglo American owns more than 70% of the

accommodation in Middlemount– Significant investment in town infrastructure including

roads, housing, recreational and shopping facilities

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ASSET OPTIMISATIONTargeting 11 million saleable tonnes per annum across the Capcoal complex

• The Cap15 project will lift production across Capcoal’s underground and open cut operations to increase the ROM tonnes to the CHPP to 15 Mtpafeed

• Rain immunisation project underway to introduce haul road, pumping and piping infrastructure to enable operations to recover and continue during prolonged wet periods

• Increasing shovel capacity (P&H 4100) to maximise production of metallurgical coal and take advantage of higher margins

• 2009 Lake Lindsay CHPP upgrade– Installed new CHPP module (4Mt product)– Recovery of an additional Thermal product– Increased coal types and improved blending

capability to meet customer needs: hard coking coal, PCI and thermal coal

– Additional product stockpiling and train loading capacity

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2008 2009 2010 2011 2012 2013 2014

Total Complex Saleable Production

Plant CapacityMt

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BUSINESS PLANDriving increased value for shareholders by optimising current assets

• Operations increasing production during the plan period

– Sweating current assets to achieve benchmark performance

– Continuous improvement of basic operation fundamentals

– Managing pit alignment to reduce unplanned interruptions

• No major capital or additional equipment required to achieve growth forecast

– Stretching the 2011 steady state operation 0

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2008 2009 2010 2011 2012 2013 2014

Open Cut ROM Production

Mt

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GROWTHLarge reserve base of 157 million tonnes - a strong foundation for a large scale operation

• Driving equipment availability and reliability– Baseline production increases achieved

year on year since 2008– Gap to benchmark decreasing for all major

equipment

• Pit to Port rail advantage – Access to two ports– Distance to DBCT: 279km– Dedicated Pacific National trains

• Maximising opportunities– Blending between open cut and

underground– Continually improving productivity and

achieving benchmark equipment performance

Dalrymple Bay

Moranbah Nth

Grosvenor

Moranbah SthCapcoal

Foxleigh

Dawson

Callide

Abbot Point

Wiggins Island

Gladstone

THANK YOU