UK-based mining giant Anglo American has announced that it has revised down its 2020 guidance for iron ore production at its Kumba site in South Africa to 42-43 million mt from the November guidance of 43-44 million mt due to domestic offtake volumes amid ArcelorMittal South Africa’s decision to wind down its steel production. The company previously cut its production guidance in November as well. The revised production guidance at Kumba also applies to 2021 and 2022.
Regarding coal production outlook, Anglo American has reduced its expectations for 2020 from 22-24 million mt to 21-23 million mt, while the production guidance for 2021 and 2022 was revised down to 22-24 million mt and 25-27 million mt from 23-25 million mt and 26-28 million mt, respectively.