Anglo American’s iron ore output from Minas-Rio up 17 percent in H1

Thursday, 16 July 2020 18:05:41 (GMT+3)   |   Istanbul
       

UK-based mining company Anglo American has announced that it produced 6.2 million mt of iron ore at its Minas-Rio project in Brazil in the second quarter of the current year, increasing by five percent year on year, reflecting productivity initiatives. In the same quarter, the company’s iron ore production at its Kumba mine in South Africa decreased by 20 percent year on year to 8.5 million mt. The iron ore sales volume from the Kumba mine fell by 23 percent year on year to 8.1 million mt due to logistics constraints against the backdrop of the coronavirus pandemic. Besides, Anglo American’s metallurgical coal production amounted to 4 million mt in the second quarter this year, falling by 32 percent compared to the second quarter of 2019.

In the first half of the current year, the company’s iron ore production from its Minas-Rio project increased by 17 percent year on year to 12.6 million mt, while it produced 17.9 million mt iron ore at Kumba, decreasing by 11 percent year on year in the same period. Besides, the mining giant’s metallurgical coal production amounted to 7.8 million mt in the first half this year, falling by 22 percent on year-on-year basis.

Anglo American’s Kumba iron ore production guidance for 2020 has remained unchanged at 37-39 million mt, while its production forecast for the Minas-Rio Project stands at 22-24 million mt, considering further coronavirus-related disruptions. The company has postponed the planned one-month production halt originally scheduled for the second quarter to the second half of the year. Moreover, the company has revised down its metallurgical coal production guidance for 2020 to 16-18 million mt from a previous forecast of 19-21 million mt, reflecting further coronavirus-related disruptions.


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