Group performance data

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SALIENT FEATURES

        2012   2011   2010   2009   2008
Average market prices achieved                        
Platinum   US$/oz   1,532   1,707   1,611   1,199   1,570
Palladium   US$/oz   640   735   507   257   355
Rhodium   US$/oz   1,264   2,015   2,424   1,509   5,174
Gold   US$/oz   1,669   1,556   1,259   1,002   885
Nickel   US$/lb   7.76   10.50   9.70   6.54   9.79
Copper   US$/lb   3.58   4.04   3.23   2.20   3.15
US$ basket price – Pt

(net sales revenue per Pt oz sold)

  US$/oz Pt sold   2,406   2,698   2,491   1,715   2,764
US$ basket price – PGM

(net sales revenue per PGM oz sold)

  US$/oz PGM sold   1,316   1,510   1,336   926   1,449
Platinum   R/oz   12,596   12,426   11,733   9,893   12,640
Palladium   R/oz   5,266   5,322   3,690   2,107   2,887
Rhodium   R/oz   10,358   14,642   17,731   12,462   42,145
Gold   R/oz   13,872   11,504   9,106   8,105   7,580
Nickel   R/lb   63.12   75.42   71.23   52.85   77.30
Copper   R/lb   29.46   29.02   23.62   17.76   25.85
R basket price – Pt

(net sales revenue per Pt oz sold)

  R/oz Pt sold   19,764   19,595   18,159   14,115   22,348
R basket price – PGM

(net sales revenue per PGM oz sold)

  R/oz PGM sold   10,811   10,968   9,740   7,621   11,716
Exchange rates                        
Average exchange rate achieved on sales   ZAR/US$   8.2156   7.2625   7.2890   8.2327   8.0850
Exchange rate at end of the year   ZAR/US$   8.4689   8.1055   6.6031   7.3787   9.2999
Unit cost performance                        
Cash operating cost per equivalent refined

Pt ounce 1

  R   16,364   13,552   11,730   11,236   11,096
Cash operating cost per refined Pt ounce   R   15,660   12,869   11,336   11,261   11,448
Cost of sales per total Pt ounce sold 2   R   19,354   16,306   14,986   13,359   14,922
Cost of sales per total Pt ounce sold

(mining and retreatment activities)

  R   19,872   15,909   14,765   13,427   13,286
Productivity                        
m 2  per total operating employee per month 3       6.05   6.32   7.06   6.33   5.73
Refined platinum ounces per employee 4       29.3   32.5   32.7   27.3   23.9
1 Cash operating cost per equivalent refined platinum ounce excludes ounces from purchased concentrate and associated costs.
2 Total platinum ounces sold: refined platinum ounces sold plus platinum ounces sold in concentrate.
3 Square metres mined per operating employee including processing, but excluding projects, opencast and Western Limb Tailings Retreatment employees.
4 Refined platinum ounces per employee: mined refined platinum ounces divided by own and attributable Anglo American Platinum Limited joint-venture operational employees.

 

REFINED PRODUCTION

        2012   2011   2010   2009   2008
Total operations                        
Refined production from mining operations                        
Platinum   000 oz   1,773.3   1,943.4   1,989.3   1,966.8   1,946.8
Palladium   000 oz   1,080.5   1,122.1   1,133.0   1,098.0   1,071.1
Rhodium   000 oz   240.3   257.9   252.7   278.1   243.4
Gold   000 oz   86.4   85.6   67.0   78.6   68.9
PGMs   000 oz   3,513.9   3,764.5   3,811.7   3,808.9   3,692.7
Nickel   000 tonnes   14.9   17.0   15.7   17.3   13.9
Copper   000 tonnes   9.9   11.0   9.4   10.1   7.9
Refined production from purchases

inclusive of returns

                       
Platinum   000 oz   605.3   586.7   580.6   484.8   439.8
Palladium   000 oz   315.4   308.6   315.5   262.5   247.7
Rhodium   000 oz   70.4   79.7   76.2   71.8   55.9
Gold   000 oz   18.8   19.5   14.3   12.3   9.6
PGMs   000 oz   1,126.7   1,122.9   1,125.2   942.3   838.1
Nickel   000 tonnes   2.8   3.3   2.8   2.2   1.6
Copper   000 tonnes   1.5   1.8   1.5   1.1   0.9
Total refined production                        
Platinum   000 oz   2,378.6   2,530.1   2,569.9   2,451.6   2,386.6
Palladium   000 oz   1,395.9   1,430.7   1,448.5   1,360.5   1,318.8
Rhodium   000 oz   310.7   337.6   328.9   349.9   299.3
Gold   000 oz   105.2   105.1   81.3   90.9   78.5
PGMs   000 oz   4,640.6   4,887.4   4,936.9   4,751.2   4,530.8
Nickel   000 tonnes   17.7   20.3   18.5   19.5   15.5
Copper   000 tonnes   11.4   12.8   10.9   11.2   8.8
 

PIPELINE CALCULATION

        2012   2011   2010   2009   2008
Total operations                        
Equivalent refined platinum production 1   000 oz   2,219.1   2,410.1   2,484.0   2,464.3   2,465.3
Bathopele Mine       108.7   112.5   138.7   131.8   120.1
Khomanani Mine       96.6   97.2   99.1   104.0   97.4
Thembelani Mine       81.2   101.2   95.6   78.3   75.8
Khuseleka Mine       125.3   126.5   129.0   154.8   184.3
Siphumelele Mine       78.3   96.0   94.2   109.1   127.8
Tumela Mine       217.1   264.0   295.3   294.4   310.8
Dishaba Mine       145.2   150.3   152.5   150.3   144.9
Union Mine       195.7   254.2   292.0   297.8   314.1
Union North Mine       63.7   91.5            
Union South Mine       132.0   162.7            
Mogalakwena Mine       300.2   306.3   260.3   237.3   188.1
Twickenham Platinum Mine         0.9   2.9   7.7   9.5
Unki Platinum Mine       62.1   51.6      
Modikwa Platinum Mine       119.6   124.8   129.6   134.4   135.4
Kroondal Platinum Mine 2       213.2   208.6   252.8   231.6   213.4
Marikana Platinum Mine (net of ounces sold) 2       26.4   47.0   52.6   39.7   32.2
Mototolo Platinum Mine       118.8   109.4   108.0   108.8   87.2
Bafokeng-Rasimone Platinum Mine 3       171.6   180.0   184.6   173.3   175.0
Bokoni Platinum Mine 4       55.1   59.6   62.7   60.9   74.2
Western Limb Tailings Retreatment       47.6   40.9   41.8   34.2   43.4
Purchases from third parties       56.4   79.1   92.3   115.9   131.7
                         
Pipeline stock adjustment       137.9   35.5   (34.0)   8.5   46.8
Refined platinum production (excl toll refined metal)       (2,329.1)   (2,530.1)   (2,569.9)   (2,451.6)   (2,386.6)
Mining       (1,773.3)   (1,943.4)   (1,989.3)   (1,966.8)   (1,946.8)
Purchases of concentrate       (555.8)   (586.7)   (580.6)   (484.8)   (439.8)
                         
Platinum pipeline movement       27.9   (84.5)   (119.9)   21.2   125.5
1 Mines’ production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Anglo American Platinum Limited’s (Amplats’) standard smelting and refining recoveries.
2 Production attributable to Amplats after accounting for metal concentrate sold to Impala Platinum in terms of an offtake agreement that was in place when the pooling-and-sharing agreements commenced. Metal concentrate surplus to the volumes stipulated in the offtake agreement is refined by Amplats.
3 Associate with effect from 1 November 2010.
4 Associate with effect from 1 July 2009.

GROSS PROFIT ON METAL SALES FROM MINING AND PURCHASING ACTIVITIES

    Mined including       Purchased          
    chrome sales       metals1       Total  
    Rm       Rm       Rm  
2012                      
Gross sales revenue   33,778       9,370       43,148  
Commissions paid   (240)       (70)       (310)  
Net sales revenue   33,538       9,300       42,838  
Cost of sales   (33,151)       (8,797)       (41,948)  
On-mine   (27, 607)             (27,607)  
Cash operating costs   (24,167)             (24,167)  
Depreciation   (3,314)             (3,314)  
Deferred waste stripping   (126)             (126)  
Purchase of metals and leasing activities         (8,959)       (8,959)  
Smelting   (2,576)       (520)       (3,096)  
Cash operating costs   (1,922)       (388)       (2,310)  
Depreciation   (654)       (132)       (786)  
Treatment and refining   (2,214)       (479)       (2,693)  
Cash operating costs   (1,681)       (365)       (2,046)  
Depreciation   (533)       (114)       (647)  
Increase in metal inventories   1,961       1,183       3,144  
Other costs   (2,715)       (22)       (2,737)  
                       
Gross profit on metal sales   387       503       890  
Gross profit margin (%)   1.2       5.4       2.1  
Cost of sales per total Pt ounce sold (R)   19,872       17,623       19,354  
 
2011                      
Gross sales revenue   40,090       11,394       51,484  
Commissions paid   (285)       (82)       (367)  
Net sales revenue   39,805       11,312       51,117  
Cost of sales   (31,828)       (10,734)       (42,562)  
On-mine   (25,237)             (21,950)  
Cash operating costs   (21,950)             (24,167)  
Depreciation   (3,243)             (3,243)  
Deferred waste stripping   (44)             (44)  
Purchase of metals and leasing activities   75       (9,268)       (9,193)  
Smelting   (2,336)       (465)       (2,801)  
Cash operating costs   (1,705)       (340)       (2,045)  
Depreciation   (631)       (125)       (756)  
Treatment and refining   (1,888)       (428)       (2,316)  
Cash operating costs   (1,459)       (329)       (1,788)  
Depreciation   (429)       (99)       (528)  
Increase/(decrease) in metal inventories   351       (554)       (203)  
Other costs   (2,793)       (19)       (2,812)  
                       
Gross profit on metal sales   7,977       578       8,555  
Gross profit margin (%)   20.0       5.1       16.7  
Cost of sales per total Pt ounce sold (R)   15,909       17,609       16,306  
 
1 Consists of purchased metals in concentrate, secondary metals and other metals.
 

MINING AND RETREATMENT

        2012   2011   2010   2009   2008
Production performance                        
Total development   km   127.5   138.4   144.9   144.5   207.0
Immediately available ore reserves (managed mines)   months   22.2   21.5   21.7   18.6   16.1
Square metres   000   3,497   3,858   4,073   4,554   4,803
Tonnes mined from opencast mines   000   66,761   73,754   71,073   47,375   116,414
Tonnes from surface sources including WLTR   000   6,589   7,358   7,586   5,889   6,706
Tonnes broken from underground sources   000   23,913   26,201   27,748   30,554   31,216
Tonnes milled   000   38,677   41,507   42,242   43,114   42,611
Opencast mines   000   10,598   11,026   10,630   10,231   7,780
Surface sources including WLTR   000   6,574   7,411   7,476   5,818   6,769
Underground mines   000   21,505   23,070   24,136   27,065   28,062
UG2 tonnes milled to total Merensky and UG2   %   81.5   80.2   77.5   77.3   74.8
Built-up head grade (gram/tonne milled)   4E   3.20   3.24   3.23   3.31   3.36
Surface sources including WLTR   4E   1.20   1.21   1.22   1.15   1.22
Merensky Reef   4E   4.95   5.11   5.24   5.13   5.04
UG2 Reef   4E   3.81   3.80   3.78   3.64   3.67
Platreef (Mogalakwena Mine)   4E   2.81   2.91   2.60   2.71   2.78
MSZ Reef (Unki Platinum Mine)   4E   3.43   3.64      
Equivalent refined platinum ounces 1   000 oz   2,219.1   2,410.1   2,484.0   2,464.3   2,465.3
Own mines   000 oz   1,458.0   1,601.6   1,601.4   1,628.3   1,690.4
JVs and associates – mined   000 oz   239.0   244.9   322.5   341.7   321.6
JVs and associates – purchased 2   000 oz   465.7   484.5   467.8   378.4   321.6
Purchases from third parties   000 oz   56.4   79.1   92.3   115.9   131.7
Refined platinum ounces (excl toll refined metal)   000 oz   2,329.1   2,530.1   2,569.9   2,451.6   2,386.6
Employees and productivity                        
Own-enrolled employees (average in service) 3   number   48,235   46,385   44,129   46,139   44,920
Underground mines   number   44,496   42,484   40,084   42,226   40,882
Mogalakwena Mine   number   1,163   1,195   1,210   1,048   1,065
Concentrating operations   number   2,576   2,706   2,835   2,865   2,973
Contractors (average in service)3   number   6,875   8,035   8,389   14,528   24,595
Underground mines   number   6,138   7,302   7,560   12,984   21,686
Mogalakwena Mine   number   320   286   395   552   1,537
Concentrating operations   number   417   447   434   992   1,372
m 2  per total operating employee – overall average 4   per month   6.05   6.32   7.06   6.33   5.73
m 2  per total operating employee – own mines 4   per month   5.28   5.87   6.13   5.60   4.92
m 2  per total operating employee – JVs 4   per month   9.75   8.85   10.24   9.19   8.80
Unit cost performance                        
Cash on-mine cost/tonne milled   R/tonne   625   529   472   453   475
Cash operating cost per equivalent refined Pt oz   R/oz   16,364   13,552   11,730   11,236   11,096
Operating income statement                        
Net sales revenue   Rm   33,538   39,805   36,179   29,971   39,901
Operating cost of sales5   Rm   (30,436)   (29,035)   (26,873)   (26,175)   (22,679)
Operating contribution   Rm   3,102   10,770   9,306   3,796   17,222
Operating margin   %   9.2   27.1   25.7   12.7   43.2
1 Mines’ production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Anglo American Platinum Limited’s (Amplats’) standard smelting and refining recoveries.
2 Includes 100% of Bokoni Platinum Mine production with effect from 1 July 2009 and 100% of Bafokeng-Rasimone Platinum Mine with effect from 1 November 2010 when these two mines became associates.
3 Employee numbers represent 100% of managed operations and Amplats’ attributable employees for all joint-venture operations. Bokoni and BRPM employees are excluded from all comparative periods. Joint-venture employees are included at Amplats’ attributable share.
4 Square metres mined per operating employee including processing but excluding projects, opencast and Western Limb Tailings Retreatment employees.
5 Operating cost of sales excludes other costs.

BATHOPELE MINE

(100% owned)

        2012   2011   2010   2009   2008
Refined production                        
Platinum   000 oz   115.7   118.3   141.6   133.6   112.6
Palladium   000 oz   66.3   65.8   81.8   73.9   62.7
Rhodium   000 oz   22.6   20.9   24.7   25.9   19.6
Gold   000 oz   1.3   1.3   1.4   1.5   1.2
PGMs   000 oz   244.8   243.2   292.8   278.0   228.9
Nickel   000 tonnes   0.2   0.3   0.3   0.3   0.2
Copper   000 tonnes   0.1   0.1   0.1   0.1   0.1
Production statistics                        
Total development – UG2   km   3.1   2.4      
Immediately available ore reserves   months   14.1   13.7   13.5   11.5   11.5
Square metres – UG2   000 m2   321   340   429   437   401
Tonnes – Surface sources to concentrators   000 tonnes          
Tonnes broken – UG2   000 tonnes   2,614   2,642   3,293   3,309   2,925
Tonnes milled   000 tonnes   2,518   2,440   3,107   2,962   2,776
Surface sources   000 tonnes          
Underground sources   000 tonnes   2,518   2,440   3,107   2,962   2,776
UG2 tonnes milled to total Merensky and UG2   %   100.0   100.0   100.0   100.0   100.0
Built-up head grade (gram/tonne milled)   4E   2.85   3.08   3.02   3.08   2.94
Surface sources   4E          
UG2   4E   2.85   3.08   3.02   3.08   2.94
Equivalent refined platinum ounces 1   000 oz   108.7   112.5   138.7   131.8   120.1
Employees and productivity                        
Own-enrolled employees (average in service)   number   1,838   1,826   1,547   1,092   944
Contractor employees (average in service)   number   337   395   629   1,213   1,363
m 2  per total operating employee 2   per month   12.3   13.1   16.5   15.6   14.8
Refined Pt ounce per total operating employee   per annum   53.2   53.3   65.1   58.0   48.8
Unit cost performance                        
Cash on-mine cost/tonne milled   R/tonne   623   558   436   428   413
Cash operating cost per equivalent refined Pt oz   R/oz   15,804   13,168   10,748   10,647   10,386
Cash operating cost per refined Pt oz   R/oz   14,848   12,522   10,528   10,504   11,708
Operating income statement                        
Net sales revenue   Rm   2,059   2,284   2,526   1,950   2,346
Operating cost of sales 3   Rm   (2,091)   (1,736)   (1,825)   (1,645)   (1,191)
Operating contribution   Rm   (32)   548   701   305   1,155
Operating margin   %   (1.6)   24.0   27.7   15.6   49.2
Gross profit margin   %   (9.6)   17.0   21.6   8.5   45.7
Operating free cash flow 4   Rm   (104)   434   656   144   690
Net cash flow 5   Rm   (262)   254   481   (149)   479
1 Mine’s production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Amplats’ standard smelting and refining recoveries.
2 Calculation based on a standard 23-shift month.
3 Operating cost of sales excludes other costs.
4 Operating free cash flow equals net sales revenue less direct cash operating costs, processing costs, allocated other costs, on-mine stay-in-business capital and allocated off-mine stay-in-business capital.
5 Net cash flow equals operating free cash flow less on-mine project capital and allocated off-mine project capital.

KHOMANANI MINE

(100% owned)

        2012   2011   2010   2009   2008
Refined production                        
Platinum   000 oz   102.8   102.2   101.1   105.5   91.3
Palladium   000 oz   49.3   47.9   47.2   47.4   39.5
Rhodium   000 oz   12.3   10.8   9.7   11.1   7.8
Gold   000 oz   4.2   4.4   4.0   4.6   3.8
PGMs   000 oz   187.1   179.7   174.6   183.1   152.0
Nickel   000 tonnes   0.6   0.7   0.7   0.7   0.5
Copper   000 tonnes   0.4   0.4   0.4   0.5   0.4
Production statistics                        
Total development – Merensky   km   5.5   6.0   7.1   7.9   9.8
Total development – UG2   km   6.3   6.0   2.7     1.1
Immediately available ore reserves   months   18.2   19.0   16.8   12.9   11.6
Square metres – Merensky   000 m2   176   199   202   198   213
Square metres – UG2   000 m2   98   88   80   101   56
Tonnes – Surface sources to concentrators   000 tonnes   2   10   13    
Tonnes broken – Merensky   000 tonnes   829   900   922   914   962
Tonnes broken – UG2   000 tonnes   676   627   491   542   302
Tonnes milled   000 tonnes   1,312   1,334   1,317   1,274   1,144
Surface sources   000 tonnes   2   11   13    
Underground sources   000 tonnes   1,310   1,323   1,305   1,274   1,144
UG2 tonnes milled to total Merensky and UG2   %   45.9   42.0   37.6   40.2   29.5
Built-up head grade (gram/tonne milled)   4E   4.35   4.31   4.38   4.92   4.79
Surface sources   4E   0.70   0.84   1.45    
Merensky   4E   5.00   4.91   5.14   5.79   5.38
UG2   4E   3.59   3.53   3.22   3.61   3.40
Equivalent refined platinum ounces 1   000 oz   96.6   97.2   99.1   104.0   97.4
Employees and productivity                        
Own-enrolled employees (average in service)   number   4,226   3,873   3,622   3,991   3,619
Contractor employees (average in service)   number   301   355   342   495   1,355
m 2  per total operating employee 2   per month   5.4   5.8   6.0   5.5   4.6
Refined Pt ounce per total operating employee   per annum   22.7   24.2   25.5   23.5   18.4
Unit cost performance                        
Cash on-mine cost/tonne milled   R/tonne   1,215   1,055   963   939   911
Cash operating cost per equivalent refined Pt oz   R/oz   17,938   15,698   13,911   12,659   11,622
Cash operating cost per refined Pt oz   R/oz   16,856   14,930   13,636   12,479   12,398
Operating income statement                        
Net sales revenue   Rm   1,824   1,925   1,709   1,489   1,659
Operating cost of sales 3   Rm   (1,991)   (1,691)   (1,580)   (1,475)   (1,110)
Operating contribution   Rm   (167)   234   129   14   549
Operating margin   %   (9.2)   12.2   7.5   0.9   33.1
Gross profit margin   %   (17.2)   5.2   1.0   (6.4)   25.0
Operating free cash flow 4   Rm   (202)   64   78   (109)   269
Net cash flow 5   Rm   (273)   20   28   (201)   84
1 Mine’s production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Amplats’ standard smelting and refining recoveries.
2 Calculation based on a standard 23-shift month.
3 Operating cost of sales excludes other costs.
4 Operating free cash flow equals net sales revenue less direct cash operating costs, processing costs, allocated other costs, on-mine stay-in-business capital and allocated off-mine stay-in-business capital.
5 Net cash flow equals operating free cash flow less on-mine project capital and allocated off-mine project capital.

THEMBELANI MINE

(100% owned)

        2012   2011   2010   2009   2008
Refined production                        
Platinum   000 oz   86.5   106.4   97.6   79.3   71.1
Palladium   000 oz   45.6   55.3   52.1   40.6   36.9
Rhodium   000 oz   13.5   15.5   14.1   13.0   11.1
Gold   000 oz   2.3   2.7   2.0   2.1   1.4
PGMs   000 oz   170.5   205.9   190.1   155.6   140.1
Nickel   000 tonnes   0.5   0.6   0.5   0.5   0.3
Copper   000 tonnes   0.2   0.3   0.2   0.2   0.1
Production statistics                        
Total development – Merensky   km   3.7   5.4   5.0   3.9   5.1
Total development – UG2   km   5.3   6.5   6.9   7.8   9.1
Immediately available ore reserves   months   29.2   12.7   15.3   15.1   11.5
Square metres – Merensky   000 m²   63   70   60   55   42
Square metres – UG2   000 m²   202   265   244   217   237
Tonnes – Surface sources to concentrators   000 tonnes          
Tonnes broken – Merensky   000 tonnes   356   459   399   332   344
Tonnes broken – UG2   000 tonnes   1,071   1,332   1,234   1,149   1,264
Tonnes milled   000 tonnes   1,189   1,476   1,447   1,174   1,245
Surface sources   000 tonnes          
Underground sources   000 tonnes   1,189   1,476   1,447   1,174   1,245
UG2 tonnes milled to total Merensky and UG2   %   75.7   78.8   81.4   80.9   87.3
Built-up head grade (gram/tonne milled)   4E   4.45   4.36   4.23   4.46   4.06
Surface sources   4E          
Merensky   4E   5.47   5.56   5.70   5.88   5.11
UG2   4E   4.12   4.03   3.89   4.12   3.91
Equivalent refined platinum ounces1   000 oz   81.2   101.2   95.6   78.3   75.8
Employees and productivity                        
Own-enrolled employees (average in service)   number   4,556   4,342   3,865   3,868   3,448
Contractor employees (average in service)   number   355   186   194   379   1,168
m² per total operating employee²   per month   4.7   6.3   6.4   5.4   5.0
Refined Pt ounce per total operating employee   per annum   17.6   23.5   24.0   18.7   15.4
Unit cost performance                        
Cash on-mine cost/tonne milled   R/tonne   1,256   933   797   856   787
Cash operating cost per equivalent refined Pt oz   R/oz   19,787   14,776   13,126   13,972   13,839
Cash operating cost per refined Pt oz   R/oz   18,575   14,054   12,857   13,796   14,754
Operating income statement                        
Net sales revenue   Rm   1,556   2,055   1,735   1,170   1,476
Operating cost of sales³   Rm   (1,874)   (1,659)   (1,443)   (1,198)   (1,013)
Operating contribution   Rm   (318)   396   292   (28)   463
Operating margin   %   (20.4)   19.3   16.8   (2.5)   31.4
Gross profit margin   %   (28.4)   12.1   10.6   (9.5)   26.6
Operating free cash flow4   Rm   (249)   309   253   (128)   251
Net cash flow5   Rm   (573)   (162)   (327)   (729)   (330)
1 Mine’s production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Amplats’ standard smelting and refining recoveries.
2 Calculation based on a standard 23-shift month.
3 Operating cost of sales excludes other costs.
4 Operating free cash flow equals net sales revenue less direct cash operating costs, processing costs, allocated other costs, on-mine stay-in-business capital and allocated off-mine stay-in-business capital.
5 Net cash flow equals operating free cash flow less on-mine project capital and allocated off-mine project capital.

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