Anglo American: Iron Ore Production Stable; Pellet Output Up 4% in Q3 CY19
Anglo American Kumba iron ore production for Q3 CY19 witnessed stable at 10.5 MnT as increased production at Sishen mines was offset by lower production due to plant upgrade at Kolomela mines.
For CY19 (Jan-Sep), the total iron ore output recorded at 30.6 MnT, down 7% as against 32.9 MnT in CY18 (Jan-Sep).
Kumba iron ore exports & domestic sales down in Q3 CY19
• The Kumba iron ore exports in Q3 CY'19 dropped slightly to 9.7 MnT as against 9.8 MnT in last quarter.
• The Kumba iron ore domestic sales dropped sharply by 32% to 0.5 MnT against 0.72 MnT in Q2 CY19.
Minas-Rio mine production picked up in Q3 CY19
Minas Rio mines, pellet production for the quarter witnessed at 6.1 MnT (wet MT basis), up against 5.9 MnT in Q2 CY19 amid ramp-up at mines.
On a quarterly basis, production increased sharply against nil in Q3 CY18. For CY19 (Jan-Sep), production recorded at 17 MnT , up significantly against 3.20 MnT CY18 (Jan-Sep).
Minas Rio pellet sales dropped in Q3 CY19
Minas Rio pellet sales recorded at 5.7 MnT (wet MT basis) in Q3 CY19, down as compared to 6.59 MnT in Q2 CY19. The pellet sales has picked up this year after being nil for H2 CY18, due to resumption at mine in Dec '18.
Anglo American: Key Updates
--Minas Rio pellet production guidance for 2019 increased to 20-22 MnT based on strong performance. The miner’s previous guidance for the year stood at 19-21 MnT.
--The 2019 production guidance for Kumba iron ore mine remains unchanged at 42-43 MnT.
--In Q3 CY19, the ratio of lump to fines in Kumba ore was 66:34
source: SteelMint
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