Anglo American increased iron ore production by 12% y/y in the first half of 2023

Production increased by 9% q/q in Q2

The British mining company Anglo American in the first half of 2023, including the contribution of Kumba Iron Ore, increased iron ore production by 12% compared to the same period in 2022 – up to 30.7 million metric tons. This is stated in the report on the company’s website.

In Q2 production increased by 9% compared to the same period in 2022 – up to 15.6 million tons. Compared to the previous quarter, the indicator increased by 4%.

Production of raw materials in the Kumba region (South Africa) in January-June 2023 amounted to 18.8 million tons, increasing by 6% compared to the same period last year. In the second quarter, production decreased by 2% y/y and 1% q/q – up to 9.4 million tons.

In the Minas Rio region (Brazil), iron ore production increased by 22% year-on-year – up to 11.97 million tons. In the second quarter, the indicator increased by 29% y/y and 12% q/q – up to 6.33 million tons.

The production forecast for 2023 remained unchanged and amounts to 57-61 million tons (Kumba – 35-37 million tons; Minas-Rio – 22-24 million tons).

At the same time, production of coking coal in the first half of 2023 increased by 42% y/y – up to 6.9 million tons. In the second quarter, the indicator increased by 28% y/y, but decreased by 5% compared to the previous quarter – to 3.36 million tons. The indicator increased mainly due to unseasonal wet weather in 2022, which made the base comparatively smaller. Production expectations for 2023 are 16-19 million tons.

As GMK Center reported earlier, Anglo American in January-March 2023 decreased iron ore production by 4% compared to the same period in 2022 – 15.1 million tons. Compared to the fourth quarter of 2022, the production of ZRS increased by 15%.

In 2022, Anglo American reduced production of iron ore by 7% y/y – to 59.28 million tons. Production of coking coal for the year increased by 1% y/y – up to 15 million tons. In the fourth quarter of 2022, the company increased production of iron ore by 4.2% y/y – up to 15.68 million tons, and coking coal – by 6.4% y/y, up to 4.65 million tons.