Anglo American has forecasted a 6-10pc increase to 64.5-67.5mn mt for its iron ore production this year compared to 61.1mn mt in 2020. The miner had reported iron ore output at 37mn mt at Kumba mine and 24.1mn mt at Minas-Rio last year.
In 2021, Anglo American plans to produce 640,000-680,000mt of copper and 42,000-44,000mt of nickel. The company’s metallurgical coal production guidance declined to 14-16mn mt from 18-20mn mt previously alongside thermal coal production guidance, which fell to 14mn mt from 24mn mt, down 20-22pc and 42pc, respectively.
Copper, iron ore production up in Q1
Anglo American increased its production of iron ore by 1pc to 16.2mn mt in Q1 2021 against the same quarter a year ago while its copper output increased by 9pc to 160,000mt and nickel production dropped by 7pc to 10,100mt in the same time period comparison. The miner increased its production of manganese ore by 7pc to 905,000mt in Q1 2021 compared to the same year-ago quarter.
Metallurgical coal production used in steelmaking fell by 14pc to 3.3mn mt in Q1 2021 while its production of thermal coal dropped more sharply by 20pc to 4.9mn mt, against the same quarter in 2020. Iron ore prices increased by 59pc from $111/mt average in FY20 to $177/mt average in Q1 2021.