Anglo American lifts 2025 iron ore production guidance despite lower output in Q3

Anglo American produced 14.3 million tonnes of iron ore in Q3, lower by 10% from Q2 and 9% from Q3 2024, respectively. Production at the company's two major mines both decreased in the past quarter.

The decline in Minas-Rio mine was prominent, largely driven by a 23-day planned shutdown in August for pipeline inspection activities, while reduced production at Kumba mine in South Africa was mainly blamed on maintenance activities, the report explained.

In terms of sales, the significant output cuts in Minas-Rio also led to a marked drop in the mine's sales, which slumped 21% in Q3 compared to the same quarter last year. However, Kumba had a solid quarter thanks to improved rail performance, which drove its sales in Q3 up by 6% on year.

For the first nine months, Anglo American's total iron ore production fell by 2% on year to 45.7 million tonnes, while its total sales rose by 2% to 45.4 million tonnes.

Notably, the full-year production guidance for the Minas-Rio mine is revised higher to 23-25 million tonnes from the previous 22-24 million tonnes, since the pipeline inspection was completed ahead of schedule. Overall, Anglo American's production guidance for 2025 is increased to 58-62 million tonnes, with that for Kumba unchanged, the report showed.

The average realized price of the company's iron ore products was $92/wmt FOB during the first three quarters, higher than the $90/wmt average price during the same period in 2024, the report indicated.

Written by Irene Zhuang, zhuangailing@mysteel.com

Edited by Alyssa Ren, rentingting@mysteel.com