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Mar.29.2024 1USD=7.0948RMB
  SteelHome >>Raw Material>>Market Info>>International Dynamics
 
Anglo American's 4Q2022 Report Released

https://en.steelhome.com [SteelHome] 2023-02-02 16:30:37

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Iron ore production increased by 4% to 15.7 million tonnes, reflecting a 7% increase at Minas-Rio and a 3% increase at Kumba.

Kumba - Total production increased to 10.0 million tonnes, primarily driven by a 7% increase at Sishen to 7.0 million tonnes, reflecting an improved operational performance. Kolomela decreased by 7% to 3.0 million tonnes, as production was constrained by high stock levels at the mine due to the industrial action at Transnet (the third party rail and port operator), as well as sub-optimal rail performance following their Q4 annual shut-down for rail and port maintenance.

Total sales decreased by 34% to 7.1 million tonnes, in light of the disappointing third party logistics performance, resulting in low levels of finished stock at the port.

For the full year, Kumba's iron (Fe) content averaged 63.8% (2021: 64.1%), while the average lump:fines ratio was 67:33 (2021: 69:31).

The full year average realised price of $113/tonne(1) (FOB South Africa, wet basis) was 13% higher than the 62% Fe benchmark price of $100/tonne (FOB South Africa, adjusted for freight and moisture), reflecting the lump and Fe content quality premiums that the Kumba products attract, partly offset by the impact of provisionally priced sales volumes.

Minas-Rio - Production increased by 7% to 5.7 million tonnes, primarily due to higher plant and mining equipment availability, despite particularly high rainfall in December that has continued into early 2023.

The full year average realised price of $108/tonne (FOB Brazil, wet basis) was in line with the Metal Bulletin 66 price of $108/tonne (FOB Brazil, adjusted for freight and moisture), which reflects the premium for our high quality product, including higher (~67%) Fe content, but was offset by the impact of provisionally priced volumes.

2023 Guidance

Production guidance (wet basis) for 2023 is 57-61 million tonnes (Kumba 35-37 million tonnes; Minas-Rio 22-24 million tonnes). Kumba is subject to third party rail and port performance.

Unit cost guidance (wet basis) for 2023 is c.$39/tonne (Kumba c.$44/tonne; Minas-Rio c.$32/tonne).

Iron Ore (tonnes)

Q4

Q3

Q2

Q1

Q4

Q4 2022 vs. Q4 2021

Q4 2022 vs. Q3 2022

 

 

 2022 vs.  2021

2022

2022

2022

2022

2021

2022

2021

Iron Ore production(1)

15,682,400

16,060,000

14,373,900

13,164,900

15,050,800

4 %

(2)%

59,281,200

63,807,600

(7)%

Iron Ore sales(1)

13,886,700

15,799,200

14,470,800

13,828,700

16,775,700

(17)%

(12)%

57,985,400

63,284,500

(8)%

 

 

 

 

 

 

 

 

 

 

 

Kumba production

9,961,400

9,977,300

9,468,800

8,292,000

9,701,300

3 %

0 %

37,699,500

40,862,200

(8)%

Lump

6,523,000

6,530,300

6,229,900

5,387,700

6,419,900

2 %

0 %

24,670,900

27,552,500

(10)%

Fines

3,438,400

3,447,000

3,238,900

2,904,300

3,281,400

5 %

0 %

13,028,600

13,309,700

(2)%

Kumba production by mine

 

 

 

 

 

 

 

 

 

 

Sishen

7,010,500

7,085,600

7,105,500

5,816,100

6,538,200

7 %

(1)%

27,017,700

28,014,500

(4)%

Kolomela

2,950,900

2,891,700

2,363,300

2,475,900

3,163,100

(7)%

2 %

10,681,800

12,847,700

(17)%

Kumba sales volumes(2)

7,053,900

9,982,000

10,302,700

9,332,000

10,690,300

(34)%

(29)%

36,670,600

40,292,200

(9)%

Export iron ore(2)

7,053,900

9,982,000

10,302,700

9,332,000

10,690,300

(34)%

(29)%

36,670,600

40,185,100

(9)%

Domestic iron ore

n/a

n/a

107,100

n/a

 

 

 

 

 

 

 

 

 

 

 

Minas-Rio production

 

 

 

 

 

 

 

 

 

 

Pellet feed

5,721,000

6,082,700

4,905,100

4,872,900

5,349,500

7 %

(6)%

21,581,700

22,945,400

(6)%

Minas-Rio sales volumes

 

 

 

 

 

 

 

 

 

 

Export – pellet feed

6,832,800

5,817,200

4,168,100

4,496,700

6,085,400

12 %

17 %

21,314,800

22,992,300

(7)%

(1)Total iron ore is the sum of Kumba and Minas-Rio and reported in wet metric tonnes. Kumba product is shipped with ~1.6% moisture and Minas-Rio product is shipped with ~9% moisture.
(2)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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