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Mar.29.2024 1USD=7.095RMB
  SteelHome >>Raw Material>>Market Info>>International Dynamics
 
Anglo American 1Q2021 Iron Ore Production Up 1% YoY to 16.2 Million Tonnes

https://en.steelhome.com [SteelHome] 2021-04-22 17:57:36

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Iron ore production increased by 1% to 16.2 million tonnes, driven by a 10% increase at Kumba partly offset by a 13% decrease at Minas-Rio.

Kumba - Total production increased by 10% to 10.6 million tonnes, with a 6% increase at Sishen to 7.1 million tonnes and a 19% increase at Kolomela to 3.5 million tonnes.

The increase in production was largely driven by improved plant availability following good progress on scheduled plant maintenance.

Sales volumes decreased by 6% to 10.2 million tonnes(1)(2) due to significant rail performance challenges, due to a series of operational issues and delays caused by severe wet weather conditions, resulting in higher levels of stock and impacted throughput at the port. Consequently, finished stock increased to 5.4 million tonnes(1)(2) from 4.9 million tonnes(1)(2) at 31 December 2020.

The average lump:fines ratio in the Kumba product was 69:31 (Q1 2020: 66:34), while the Fe content averaged 64.2% (Q1 2020: 64.4%).

The average realised price of $180/tonne (FOB South Africa, wet basis) (equivalent to $183/t tonne dry basis) was higher than the 62% Fe benchmark price of $150/tonne (FOB South Africa, adjusted for freight and moisture) (equivalent to $153/tonne dry basis) due to the lump and Fe content premiums, as well as timing on provisionally priced volumes.

Minas-Rio - Production decreased by 13% to 5.6 million tonnes due to unplanned maintenance at the beneficiation plant which has now been completed, with volumes expected to be recovered during the remainder of the year.

The average realised price of $170/tonne (FOB Brazil, wet basis) was higher than the Metal Bulletin 66 price of $154/tonne (FOB Brazil, adjusted for freight and moisture), reflecting product quality, including higher (~67%) Fe content, and timing on provisionally priced volumes.

Full Year Guidance

Iron ore production guidance (wet basis) is unchanged at 64.5-67.5 million tonnes (Kumba 40.5-41.5 million tonnes; Minas-Rio 24-26 million tonnes), subject to the extent of further Covid-19-related disruption, as well as rail performance for Kumba. Kumba guidance was previously shown on a dry basis (40-41 million tonnes).

(1)   Sales volumes and stock differ to Kumba's standalone results due to sales to other Group companies.

(2)   Wet basis. The comparative has been restated as Kumba previously reported on a dry basis.

Iron Ore (tonnes)

Q1

Q4

Q3

Q2

Q1

Q1 2021 vs. Q1 2020

Q1 2021 vs. Q4 2020

2021

2020

2020

2020

2020

Iron Ore production(1)

16,173,400

16,183,200

14,677,400

14,812,500

16,029,000

1 %

(0)%

Iron Ore sales(1)

15,716,400

16,600,200

15,861,400

14,828,700

16,950,800

(7)%

(5)%

 

 

 

 

 

 

 

 

Kumba production(2)

10,554,700

9,717,600

9,683,600

8,614,500

9,604,900

10 %

9 %

Lump(2)

7,156,100

6,589,100

6,592,200

5,803,900

6,493,100

10 %

9 %

Fines(2)

3,398,600

3,128,500

3,091,400

2,810,600

3,111,800

9 %

9 %

Kumba production by mine(2)

 

 

 

 

 

 

 

Sishen(2)

7,071,200

6,583,400

6,615,300

5,877,400

6,687,900

6 %

7 %

Kolomela(2)

3,483,500

3,134,200

3,068,300

2,737,100

2,917,000

19 %

11 %

Kumba sales volumes(2)(3)

10,230,200

10,285,700

11,076,800

8,217,100

10,869,600

(6)%

(1)%

Export iron ore(2)(3)

10,123,100

10,285,700

11,076,800

8,217,100

10,511,900

(4)%

(2)%

Domestic iron ore(2)

107,100

-

-

-

357,700

(70)%

n/a

 

 

 

 

 

 

 

 

Minas-Rio production

 

 

 

 

 

 

 

Pellet feed (wet basis)

5,618,700

6,465,600

4,993,800

6,198,000

6,424,100

(13)%

(13)%

Minas-Rio sales volumes

 

 

 

 

 

 

 

Export – pellet feed (wet basis)

5,486,200

6,314,500

4,784,600

6,611,600

6,081,200

(10)%

(13)%

1.Total iron ore is the sum of Kumba and Minas-Rio and reported in wet metric tonnes. The comparative has been restated as Kumba previously reported on a dry basis. Kumba product is shipped with ~1.6% moisture and Minas-Rio product is shipped with ~9% moisture.

2.The comparative has been restated as Kumba previously reported on a dry basis.

3.Sales volumes differ to Kumba's standalone results due to sales to other Group companies.


(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837 18725550282)
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