UK-based mining giant Anglo American has revised down its 2020 guidance for iron ore production at its Kumba site from 43-45 million mt to 43-44 million mt following ArcelorMittal South Africa’s decision to wind down its steel operations at Saldanha, which will affect domestic sales. The company has also revised down its 2021 guidance for Kumba from 43-45 million mt to 43-44 million mt, while its 2019 guidance remained unchanged at 42-43 million mt.
In addition, Anglo American has again upgraded its 2019 guidance for iron ore production at its Minas Rio site to 23 million mt, from 20-22 million mt forecast in late October, due to lower costs.
Furthermore, the company has increased its 2020 and 2021 guidance for the Minas Rio site to 22-24 million mt and 24-26 million mt respectively, as compared to 21-23 million mt and 22-24 million forecast before on October 22. In 2022, Anglo American targets production of 23-25 million mt of iron ore at its Minas Rio site.
The company has also upgraded its 2020 and 2021 guidance for its metallurgical coal segment to 22-24 million mt and 23-25 million mt respectively, compared to 23-25 million mt and 25-27 million mt forecast before.
In 2022, the company said it expects to produce 43-44 million mt of iron ore at its Kumba site, while forecasting 26-28 million mt of production at its metallurgical coal segment.