Anglo-American iron ore production drop by 4% in Q1CY'23

Anglo-American, one of the major global iron ore miners, recently announced its quarterly results.

Production increased by 15% y-o-y to 15.1 mnt in Q1CY'23 as against 13.2 mnt in Q1CY'22. On a quarterly basis, production fell by 4% q-o-q to 15.1 mnt in Q1CY'23 compared to 15.6 mnt in Q4CY'22.

Kumba iron ore results in Q1CY'23

• Kumba mines total iron ore output increased by 14% y-o-y to 9.4 mnt in Q1CY'23 as against 8.3 mnt in Q1CY'22. On a quarterly basis, This was due to improved operational performance due to improved rain readiness capability and equipment reliability, as well as the benefit of lower rainfall this quarterKumba iron ore production decreases 5% q-o-q to 10 mnt in Q4CY'22.
  
  
• Sales up by 2% y-o-y to 9.5 mnt in Q1CY'23 compared to 9.3 mnt in Q1CY'22. Q4CY'22 sales were recorded at 7.05 mnt.
  
  

Minas-Rio pellet production down q-o-q

• Total iron ore pellet production 5.65 mnt in Q1CY'23 which is 16% more than 4.87 mnt in Q1CY'22. driven by improved mining performance, reflecting improved rain readiness capability as well as increased plant performance due to improvements at the crushing circuitProduction decreased by 1% compared to 5.72 mnt in Q4CY'22.
  
  
• Sales up by 12% y-o-y to 5.04 mnt in Q1CY'23 compared to 4.49 mnt in Q1CY'22. Q4CY'22 sales were recorded at 6.83 mnt.
  
  
• Minas-Rio's pellet production rose in Q1 despite heavy rainfall in December that continued into early 2023 due to increased availability of plant and mining equipment.
  
  

Outlook for CY'23

Iron ore production guidance for CY'23 has been kept at 57-61 mn t. Total iron ore production is the sum of the operations in Minas-Rio in Brazil and Kumba in South Africa. Kumba is 35-37 mnt while and Minas-Rio is 22-24 mnt. Kumba output is contingent on third-party rail and port performance.