Anglo American, one of the major global iron ore miners, recently announced its quarterly results. The miner’s iron ore output from its Kumba mine increased by 6% to 15.7 million tonnes (mn t) in Q2CY’21 as compared to 14.8 mn t in Q2CY’20.
The increase in production was attributed to lower impact of Covid-19 lockdowns compared to Q2CY’20. The output increased by 17% to 6.9 mn t at its Sishen mines, while the Kolomela mines’ output increased by 7% to 2.9 mn t.
On a sequential basis, production from the Kumba iron ore mine declined by 7% to 10.55 mn t in Q1CY’21.
Kumba iron ore sales up in Q2 CY’21
Sales volumes increased by 14% to 9.4 mnt in Q2CY’21 as compared to 8.2 mn t in Q2CY’20, reflecting the increase in production. The entire quantity was exported while movements for the domestic market were nil for this quarter as against 0.1 mn t in Q1CY’21.
Minas-Rio pellet production drops 6% y-o-y
Pellet production at the company’s Minas-Rio mines in Q2 CY’21 was at 5.9 mn t (wet tonne basis), down 5.9% against 6.2 mn t in Q2CY’20 due to further unplanned maintenance at the beneficiation plant, but which has now been completed. The major portion of the volumes are expected to be recovered during the remainder of the year.
On a quarterly basis, output increased by 5% as compared to 5.6 mn t in Q1CY’21.
Minas-Rio pellet sales fall in Q2CY’21
Pellet sales from the Minas Rio mine were recorded at 5.56 mn t (wet tonne basis) in Q2CY’21, registering a decline of 16% as compared to 6.6 mn t in Q2CY’20. On a quarterly basis, sales dropped marginally compared to 5.5 mn t in Q1CY’21.
Quantity in mn t
Source: Company Reports
Minas pellet guidance cut, Kumba iron ore guidance intact
Pellets production guidance for CY’21 has been tightened to 64.5-66.5 mn t, with 40.5-41.5 mn t kept for Kumba and 24-25 mn t for Minas Rio. The previous pellets guidance for Minas-Rio 24-26 mn t but which has now been lowered.
Leave a Reply