Anglo American – one of the major global iron ore miners, has announced its quarterly results today. The company has kept CY’20 production guidance for Kumba iron ore mine unchanged at 37-39 MnT. In addition to it, Minas Rio pellet production guidance also remains unchanged at 22-24 mn t.
Company’s iron ore production for Q3 CY’20 was recorded at 9.5 mn t, up 12% as against 8.5 in Q2 CY’20.
On a yearly basis output fell 9% as compared to 10.5 mn t in Q3 CY19. This is due to elevated finished stock levels at the end of Q2 CY20 due to Covid-related rail and port constraints, and in anticipation of the annual rail and port maintenance scheduled for Q4 CY20.
The production at Sishen iron ore mine picked up 13% to 6.5 mn t . At, Kolomela output increased by 12% for the quarter to 3 mn t.
Kumba iron ore sales picked up in Q3 CY20
Sales volumes increased by 7% to 10.9 mnt driven by a 13% increase in export sales as Transnet’s performance returned to pre-Covid-19 levels, with a significant improvement in loading rates at the port.
Minas-Rio mine production dropped in Q3 CY20
Minas Rio mines, pellet production for the Q3 CY20 quarter witnessed at 5 mn t (wet t basis), against 6.2 mn t in last quarter reflecting an approximately one month planned stoppage to carry out routine internal scanning of the pipeline. The inspection was completed successfully with operations resuming as scheduled at the start of October..
On a yearly basis too, output fell for the quarter compared to Q3 CY19 output at 6.1 mn t.
Minas Rio pellet sales fell in Q3 CY20
Minas Rio pellet sales recorded at 4.8 mn t (wet t basis) in Q3 CY20, decline of 28% as compared to 6.6 mn t in Q2 CY20. On a yearly basis, sales dropped compared to 5.7 mn t in Q3 CY’19.
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