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
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Russia takes aim at US nuclear power by throttling uranium
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project