Anglo American maintains iron ore output guidance at Kumba

Monday, 26 October 2020 13:38:28 (GMT+3)   |   Istanbul
       

UK-based mining giant Anglo American Corporation has announced its production results for the third quarter ended September 30 this year. In the third quarter, iron ore production from its South African subsidiary Kumba Iron Ore decreased by nine percent year on year to 9.5 million mt, due to lower production at both Sishen and Kolomela. Production was reduced in response to both the elevated finished stock levels at the end of the second quarter amid coronavirus-related rail and port constraints, and in anticipation of the annual rail and port maintenance scheduled for the fourth quarter. In the first nine months of the current year, the company’s iron ore production at Kumba decreased by 10 percent year on year to 27.5 million mt.

Iron ore sales from the Kumba mine increased by seven percent year on year to 10.9 million mt, driven by a 13 percent increase in export sales as Transnet’s performance returned to pre-Covid-19 levels, with a significant improvement in loading rates at the port.      

Kumba’s iron ore production guidance for 2020 remains unchanged at 37-39 million mt, subject to the extent of further Covid-19-related disruptions.


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