|
Kumba
- Total production decreased by 19% to 9.6 million tonnes, with Sishen
production decreasing by 22% to 6.5 million tonnes and Kolomela
production decreasing by 13% to 3.1 million tonnes.
The decrease
in production was largely driven by higher than average rainfall, which
has continued into 2021, and operational issues at the Sishen crusher
and Kolomela plant. This coincided with annual rail and port maintenance
that took place in Q4, compared to in Q3 2019. Consequently, production
volumes were supplemented by finished stock, which decreased to 4.8
million tonnes(1) from 5.4 million tonnes(1) at 30 September 2020.
Total sales
decreased by 3% to 10.1 million tonnes(1) with export sales decreasing
by 1% following extended maintenance on a ship loader, while domestic
sales decreased by 0.2 million tonnes.
In the fourth
quarter, the average lump:fines ratio in the Kumba product was 73:27(1)
(full year 68:32), while the Fe content averaged 64.3%(1) (full year
64.3%).
The full year
average realised price of $115/tonne (FOB South Africa) was higher than
the 62% Fe benchmark price of $97/tonne (FOB South Africa, adjusted for
freight) due to the lump and Fe content premiums as well as timing on
provisionally priced volumes.
Minas-Rio
- Production increased by 5% to a record 6.5 million tonnes, reflecting
continued strong performance following the one-month planned stoppage
for a routine internal scanning of the pipeline in the third quarter.
The full year
average realised price of $107/tonne (FOB Brazil) was higher than the
Metal Bulletin 66 price of 92/tonne (FOB Brazil, adjusted for freight
and moisture), reflecting timing on provisionally priced volumes and
product quality, including higher (~67%) Fe content.
2021
Guidance
Iron ore
production guidance is unchanged at 64-67 million tonnes (Kumba 40-41
million tonnes; Minas-Rio 24-26 million tonnes), subject to the extent
of further Covid-19 related disruption.
T1:
Production Summary
|
(000
t) |
4Q2020 |
4Q2019 |
YoY % |
3Q2020 |
MoM % |
2020 |
2019 |
YoY % |
|
Kumba |
9,565 |
11,806 |
-19 |
9,532 |
0 |
37,021 |
42,388 |
-13 |
|
Minas-Rio |
6,466 |
6,164 |
5 |
4,994 |
29 |
24,082 |
23,115 |
4 |
|
Total |
16,031 |
17,970 |
-11 |
14,525 |
10 |
61,102 |
65,503 |
-7 |
T2:
Production and Sales
|
(tonnes) |
Q4
2020 |
Q3
2020 |
Q2
2020 |
Q1
2020 |
Q4
2019 |
YoY % |
MoM % |
2020 |
2019 |
YoY % |
|
Iron Ore production |
16,030,600 |
14,525,400 |
14,672,900 |
15,873,400 |
17,969,700 |
-11 |
10 |
61,102,300 |
65,502,600 |
-7 |
|
Iron Ore sales |
16,438,700 |
15,687,500 |
14,695,600 |
16,764,700 |
17,040,100 |
-4 |
5 |
63,586,500 |
64,900,700 |
-2 |
|
|
|
|
|
|
|
Kumba production |
9,565,000 |
9,531,600 |
8,474,900 |
9,449,300 |
11,806,100 |
-19 |
0 |
37,020,800 |
42,387,700 |
-13 |
|
Lump |
6,485,600 |
6,488,700 |
5,709,800 |
6,387,900 |
7,898,500 |
-18 |
0 |
25,072,000 |
28,510,100 |
-12 |
|
Fines |
3,079,400 |
3,042,900 |
2,765,100 |
3,061,400 |
3,907,600 |
-21 |
1 |
11,948,800 |
13,877,600 |
-14 |
|
Kumba production by
mine |
|
|
|
|
|
|
|
|
|
|
|
Sishen |
6,480,000 |
6,511,500 |
5,782,200 |
6,579,600 |
8,263,900 |
-22 |
0 |
25,353,300 |
29,174,400 |
-13 |
|
Kolomela |
3,085,000 |
3,020,100 |
2,692,700 |
2,869,700 |
3,542,200 |
-13 |
2 |
11,667,500 |
13,213,300 |
-12 |
|
Kumba sales volumes |
10,124,200 |
10,902,900 |
8,084,000 |
10,683,500 |
10,469,400 |
-3 |
-7 |
39,794,600 |
41,973,700 |
-5 |
|
Export iron ore |
10,124,200 |
10,902,900 |
8,084,000 |
10,331,900 |
10,237,100 |
-1 |
-7 |
39,443,000 |
39,793,500 |
-1 |
|
Domestic iron ore |
— |
— |
— |
351,600 |
232,300 |
n/a |
n/a |
351,600 |
2,180,200 |
-84 |
|
|
|
|
|
|
|
Minas-Rio production |
|
|
|
|
|
|
|
|
|
|
|
Pellet feed (wet basis) |
6,465,600 |
4,993,800 |
6,198,000 |
6,424,100 |
6,163,600 |
5 |
29 |
24,081,500 |
23,114,900 |
4 |
|
Minas-Rio sales
volumes |
|
|
|
|
|
|
|
|
|
|
|
Export – pellet feed (wet basis) |
6,314,500 |
4,784,600 |
6,611,600 |
6,081,200 |
6,570,700 |
-4 |
32 |
23,791,900 |
22,927,000 |
4 |
More Info:
Q4
2020 PRODUCTION REPORT |
