Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Anglo American’s production decreased by 4pc in Q1 2020 because of reduced output in March, following safeguarding measures taken around the world to contain the spread of COVID-19.


The company kept its copper production guidance for 2020 unchanged at 620,000-670,000mt, but revised iron ore output estimates from its Kumba mines in South Africa to 37-39mn mt from 41.5-42.5mn mt because of the country’s lockdown measures. Its iron ore output guidance from the Minas Rio mine in South America remains 22-24mn mt. Anglo American’s production guidance for metallurgical coal also remains unchanged at 19-21mn mt for the time being. 


However, the company said the guidances could change in all these regions depending on whether or not there are any further COVID-19-related disruptions to production. 


During the first quarter, Anglo American’s copper output fell by 9pc to 147,000mt from 161,000mt produced during the same period in 2019. Its nickel production increased by 11pc to 10,900mt in Q1 2020 from 9,800mt produced during the first quarter of 2019.


The company’s iron ore production at Kumba decreased by 1pc to 9.4mn mt in the first quarter of 2020 from 9.5mn mt during the same period in 2019. However, iron ore output at the company’s Minas Rio mine increased by 31pc to 6.4mn mt during the first quarter of 2020 compared with 4.9mn mt in Q1 2019.


Metallurgical coal production at Anglo American decreased by 8pc in Q1 2020 to 3.8mn mt from 4.2mn mt in the same prior-year quarter.


The company’s copper sales fell by 2pc to 139,600mt in Q1 2020 from 141,900mt during the same period last year, while its nickel sales increased in the first quarter by 8pc to 10,600mt from 9,800mt in Q1 2019.


Iron ore sales from the company’s Kumba mine decreased by 2pc in Q1 2020 to 10.68mn mt from 10.87mn mt during the same period last year, while sales from the Minas-Rio mine increased by 51pc to 6.08mn mt in Q1 2020 from 4.03mn mt in Q1 0219.

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