Seamus French, CEO of Bulk Commodities at Anglo American, said: "The high quality and significantly improved operational performance of Anglo American's Bulks businesses continue to deliver very attractive margins and returns. We are today upgrading our 2019 production guidance for Minas-Rio by a further 10% - with a proportionate decrease in unit costs - while also providing volume guidance for the next three financial years, as well as long term volume and unit cost potential.

"We believe our iron ore, met coal and nickel businesses are well set to meet future demand trends, particularly in relation to the high quality of their products. Through attractive resource characteristics,  beneficiation and blending,  we offer our customers a reliable supply of niche steelmaking products with low levels of contaminants, thereby helping steel plants meet ever tighter emissions standards. For example, in the first half of 2019 our iron ore saw an average Fe content of more than 65%, above any of the other major producers, contributing towards the sustained price premia we realise for our products.

"Looking forwards, we have a disciplined approach to growth within our portfolio, with numerous debottlenecking and life extension opportunities in the medium term across our iron ore and met coal assets. Combined with our ongoing focus on setting new operational performance benchmarks and the introduction of step-change technologies aimed at safety, productivity and a smaller environmental footprint, we see only a strengthening of our position and ability to generate leading and sustainable returns."

Anglo American is today providing updated 2019-2021 production guidance for iron ore, as well as new guidance for 2022:

1: 2022F guidance has not previously been provided.

Anglo American also highlighted the long term potential, in terms of production volumes and unit costs, for iron ore, as shown below:

1. Wet basis

2. Dry basis / subject to rail performance