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Mar.29.2024 1USD=7.0948RMB
  SteelHome >>Raw Material>>Market Info>>International Dynamics
 
Anglo American Reported Kumba's Iron Ore Production Down 9% YoY to 9.5Mlnt in 3Q2020

https://en.steelhome.com [SteelHome] 2020-10-22 15:40:01

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Kumba - Total production decreased by 9% to 9.5 million tonnes with Sishen's production 9% lower at 6.5 million tonnes and Kolomela's 10% lower at 3.0 million tonnes.

Production was reduced in response to both the elevated finished stock levels at the end of Q2 2020 due to Covid-related rail and port constraints, and in anticipation of the annual rail and port maintenance scheduled for Q4 2020. Consequently, stock levels were drawn down to 5.4 million tonnes(1)  from 6.2 million tonnes(1)  as at 30 June 2020. Reduced levels of production supported additional focus on scheduled maintenance and operational improvement.

Sales volumes increased by 7% to 10.9 million tonnes(1) driven by a 13% increase in export sales as Transnet's performance returned to pre-Covid-19 levels, with a significant improvement in loading rates at the port.

Year to date, Kumba product Fe content averaged 64.3%, while the average lump:fines ratio was 67:33. Consequently, the year to date average realised price of $103/tonne (FOB South Africa) was higher than the 62% Fe benchmark price of $90/tonne (FOB South Africa, adjusted for freight) due to these premiums.

Minas-Rio - Production decreased by 18% to 5.0 million tonnes, reflecting an approximately one month planned stoppage to carry out routine internal scanning of the pipeline. The inspection was completed successfully with operations resuming as scheduled at the start of October.

The year to date average realised price of $96/tonne (FOB Brazil) was higher than the Metal Bulletin 66 price (FOB Brazil, adjusted for freight and moisture) of $86/tonne, reflecting product quality, including higher (~67%) Fe content.

Full Year Guidance

Kumba production guidance is unchanged at 37-39 million tonnes, subject to the extent of further Covid-19 related disruption.

Minas-Rio production guidance is unchanged at 22-24 million tonnes, subject to the extent of further Covid- 19 related disruption.

T1: Production Summary

Iron Ore (000 t)

Q3 2020

Q3 2019

Q3 2020 VS Q3 2019

Q2 2020

Q3 2020 VS Q2 2020

9M 2020

9M 2019

9M 2020 VS 9M 2019

Kumba

9,532

10,521

-9%

8,475

12%

27,456

30,582

-10%

Minas-Rio(1)

4,994

6,126

-18%

6,198

-19%

17,616

16,951

4%

(1)   Volumes are reported as wet metric tonnes. Product is shipped with ~9% moisture.

T2: Production and Sales

Iron Ore (tonnes)

Q3 2020

Q2 2020

Q1 2020

Q4 2019

Q3 2019

Q3 2020 VS Q3 2019

Q3 2020 VS Q2 2020

9M 2020

9M 2019

9M 2020 VS 9M 2019

Kumba production

9,531,600

8,474,900

9,449,300

11,806,100

10,521,300

-9%

12%

27,455,800

30,581,600

-10%

Lump

6,488,700

5,709,800

6,387,900

7,898,500

6,955,500

-7%

14%

18,586,400

20,611,500

-10%

Fines

3,042,900

2,765,100

3,061,400

3,907,600

3,565,800

-15%

10%

8,869,400

9,970,100

-11%

Kumba production by mine

 

 

 

 

 

 

 

 

 

 

Sishen

6,511,500

5,782,200

6,579,600

8,263,900

7,153,500

-9%

13%

18,873,300

20,910,500

-10%

Kolomela

3,020,100

2,692,700

2,869,700

3,542,200

3,367,800

-10%

12%

8,582,500

9,671,100

-11%

Kumba sales volumes

10,902,900

8,084,000

10,683,500

10,469,400

10,153,800

7%

35%

29,670,400

31,504,300

-6%

Export iron ore(1)

10,902,900

8,084,000

10,331,900

10,237,100

9,670,200

13%

35%

29,318,800

29,556,400

-1%

Domestic iron ore

351,600

232,300

483,600

n/a

n/a

351,600

1,947,900

-82%

 

 

 

 

 

 

 

 

 

 

 

Minas-Rio production

 

 

 

 

 

 

 

 

 

 

Pellet feed (wet basis)

4,993,800

6,198,000

6,424,100

6,163,600

6,126,100

-18%

-19%

17,615,900

16,951,300

4%

Minas-Rio sales volumes

 

 

 

 

 

 

 

 

 

 

Export – pellet feed (wet basis)

4,784,600

6,611,600

6,081,200

6,570,700

5,734,500

-17%

-28%

17,477,400

16,356,300

7%

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

More Info: Q3 2020 PRODUCTION REPORT


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