Anglo American announced an increase in its Minas Rio iron ore production guidance for the year to 23 MnT against previously set guidance at 20-22 MnT, with proportionate decrease in unit cost. The miners towards Oct’19 end in its quarterly results, reported a rise in pellet guidance to 20-22 MnT based on strong performance. The miner’s previous guidance for the year stood at 19-21 MnT.
Anglo American upgraded production guidance estimates at Minas Rio for 2020 to 22-24 MnT (against previous guidance at 21-23 MnT) and for 2021 to 24-26 MnT (against previous set at 22-24 MnT).
The production guidance for Kumba iron ore mine for 2019 remains unchanged at 42-43 MnT. However, the production outlook for both 2020 and 2021 changed to 43-44 MnT from the prior range of 43-45 MnT.
Anglo American Kumba iron ore production for Q3 CY19 witnessed stable at 10.5 MnT as increased production at Sishen mines was offset by lower production due to plant upgrade at Kolomela mines. The Kumba iron ore exports in Q3 CY’19 dropped slightly to 9.7 MnT as against 9.8 MnT in last quarter.The Kumba iron ore domestic sales dropped sharply by 32% to 0.5 MnT against 0.72 MnT in Q2 CY19.
Minas Rio mines, pellet production for the quarter Q3 CY19 witnessed at 6.1 MnT (wet MT basis), up against 5.9 MnT in Q2 CY19 amid ramp-up at mines.
| Iron Ore Mines | Revised Production Guidance | Previous Production Guidance | ||||
| 2019 | 2020 | 2021 | 2019 | 2020 | 2021 | |
| Minas Rio | 23 | 22-24 | 24-26 | 20-22 | 21-23 | 22-24 |
| Kumba | 42-43 | 43-44 | 43-44 | 42-43 | 43-45 | 43-45 |
Qty in MnT
Source: Company Reports
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