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. |