Anglo American’s Q1 Iron Ore Output Jumps YoY, But Falls QoQ, and Maintains Production Guidance for 2023

Anglo American has released its quarterly report. The company produced 15.08 million mt of iron ore in the first quarter of 2023, up 15% year-on-year, but down 4% from Q4 2022. Among them, its iron ore output in the Kumba region totalled 9.425 million mt in the first quarter, an increase of 14% year-on-year, but a decrease of 5% quarter-on-quarter. In addition, its the Minas region produced a total of 5.651 million mt of pellet feed in the first quarter, an increase of 16% year-on-year, but a decrease of 1% quarter-on-quarter.

Anglo American has kept its annual iron ore production guidance for 2023 unchanged at 57-61 million mt, of which the iron ore production guidance for the Kumba region in 2023 will be 35-37 million mt, and the Minas region will be 22-24 million mt.