Anglo American – one of the major global iron ore miners has recently announced its quarterly results. The miner’s iron ore output from Kumba mines decreased by 19% to 9.6 mn t in Q4 CY’20 as compared with 11.8 mn t in Q4 CY’19. The decrease is attributed to high rainfall and operational issues at the Sishen crusher and Kolomela plant. The output fell by 22% at Sishen mines to 6.5 mn t and at Kolomela mines by 13% at 3.1 mn t.
On a sequential basis, output was largely stable against 9.5 mn t in Q3 CY’20.
Kumba iron ore sales down 3% in Q4 CY’20
Sales volumes decreased by 3% to 10.1 mnt in Q4 CY’20 as compared to 10.5 mn t in Q4 CY’19. Entire material of 10.1 mn t for the quarter was exported.
Minas-Rio pellet production was a record high for the quarter
Minas Rio mines, pellet production for the Q4 CY’20 quarter was at 6.5 mn t (wet t basis), up 5% against 6.2 mn t in Q4 CY’19 reflecting continued strong performance following 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 quarterly basis too, output picked significantly as compared to 5 mn t in Q3 CY’20.
Minas Rio pellet sales fell in Q4 CY’20
Minas Rio pellet sales recorded at 6.3 mn t (wet t basis) in Q4 CY’20, registering a decline of 4% as compared to 6.6 mn t in Q4 CY’19. On a quarterly basis, sales increased compared to 4.8 mn t in Q3 CY’20.
In CY’20, the total output at (Kumba and Minas Rio) dropped 7% to 61.1 mn t against 65.5 mn t in CY’19. The total sales fell to 63.6 mn t against 64.9 mn t in CY’19.
Outlook for CY’21
Iron ore CY’21 guidance remains unchanged at 64-67 mn t (Kumba at 40-41 mn t and Minas Rio at 24-26 mn t). The guidance is subject to no further COVID related disruptions.
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