Anglo American, one of the major global iron ore miners, recently announced its quarterly results. The miner’s total iron ore output increased by 15% to 16.9 million tonnes (mn t) in Q3CY’21 as compared to 14.7 mn t in Q3CY’20.
The increase in production was attributed to a lesser impact of Covid-19 lockdowns compared to Q3CY’20.
The output at Sishen mines increased 14% y-o-y to 7.5 mn t , while the Kolomela mines’ output increased 6% to 3.3 mn t, y-o-y.
On a sequential basis, production from the Kumba iron ore mine increased by 10% to 10.8 mn t as against 9.8 mn t in the previous quarter.
Kumba iron ore sales down in Q3 CY’21
Sales volumes moved down by 10% to 10 mnt in Q3CY’21 as compared to 11.1 mn t in Q3CY’20 due to unplanned maintenance and weather-related delays at the Saldanha port. The entire quantity was exported while movements for the domestic market were nil for this quarter.
Minas-Rio pellet production rises 22% y-o-y
Pellet production at the company’s Minas-Rio mines in Q3CY’21 was at 6.1 mn t (wet tonne basis), up 22% against 5 mn t in Q3CY’20 reflecting the planned stoppage in Q3’20, when routine internal scanning of the pipeline was carried out.
On a quarterly basis, output increased by 4% as compared to 5.9 mn t in Q2CY’21.
Minas-Rio pellet sales up in Q3CY’21
Pellet sales from the Minas Rio mine were recorded at 5.85 mn t (wet tonne basis) in Q3CY’21, registering an increase of 22% as compared to 4.78 mn t in Q3CY’20. On a quarterly basis, sales increased compared to 5.56 mn t in Q2CY’21.
Quantity in mn t
Source: Company Reports
Outlook for CY’21
- Pellets production guidance for CY’21 has been tightened to 64.5mn t, with 40.5 mn t kept for Kumba owing to logistics issues in South Africa.
- The pellets guidance for Minas-Rio is set at 24 mn t as against 24-25 mn t previously owing to lower plant availability.
- Both guidances are subject to further Covid-19 related disruption and Kumba is subject to rail performance.
Leave a Reply