|
Iron ore production in
the fourth quarter decreased by 7% to 15.1 million tonnes, driven by a
17% decrease at Minas-Rio, while Kumba's production was in line with the
prior year.
Kumba - Total production
was in line with the prior year at 9.7 million tonnes, reflecting
broadly flat production of 3.2 million tonnes at Kolomela and 6.5
million tonnes at Sishen. Production was limited by higher stock levels
at the mines as a result of the third party rail performing below
planned levels earlier in the year, as well as the impact of the Q4
annual shut-down for rail and port maintenance.
Total sales of 10.7
million tonnes(1) increased by 4% due to improved equipment reliability
and throughput at the Saldanha port.
For the full year,
Kumba's iron (Fe) content averaged 64.1% (2020: 64.3%), while the
average lump:fines ratio increased to 69:31 (2020: 68:32).
Kumba achieved a full
year average realised price of $161/tonne (FOB South Africa, wet basis),
18% above the 62% Fe benchmark price of $136/tonne (FOB South Africa,
adjusted for freight and moisture) due to the lump and Fe content
quality premiums that the Kumba products attract, partially offset by
the timing on provisionally priced volumes.
Minas-Rio - Production
decreased by 17% to 5.3 million tonnes primarily due to lower plant
availability, impacted by unplanned maintenance and heavy rainfall
experienced during the quarter.
The full year average
realised price of $150/tonne (FOB Brazil, wet basis) was higher than the
Metal Bulletin 66 price of
$142/tonne (FOB Brazil,
adjusted for freight and moisture), reflecting the premium quality of
the product, including higher (~67%) Fe content, partially offset by the
timing on provisionally priced volumes.
2022 Guidance
Production guidance (wet
basis) for 2022 is 63-67 million tonnes (Kumba 39-41 million tonnes;
Minas-Rio 24-26 million tonnes). Both are subject to the extent of
further Covid-19 related disruption and Kumba is subject to the third
party rail and port performance.
(1) Sales volumes are
reported on a wet basis and differ to Kumba's standalone results due to
sales to other Group companies.
|
|
4Q2021 |
3Q2021 |
2Q2021 |
1Q2021 |
4Q2020 |
YoY |
MoM |
2021 |
2020 |
YoY |
|
Iron Ore production(1) |
15,050,800 |
16,888,100 |
15,695,300 |
16,173,400 |
16,183,200 |
-7% |
-11% |
63,807,600 |
61,702,100 |
3% |
|
Iron Ore sales(1) |
16,775,700 |
15,818,800 |
14,973,600 |
15,716,400 |
16,600,200 |
1% |
6% |
63,284,500 |
64,241,100 |
-1% |
|
|
|
|
|
|
|
Kumba production |
9,701,300 |
10,788,600 |
9,817,600 |
10,554,700 |
9,717,600 |
0% |
-10% |
40,862,200 |
37,620,600 |
9% |
|
Lump |
6,419,900 |
7,252,800 |
6,723,700 |
7,156,100 |
6,589,100 |
-3% |
-11% |
27,552,500 |
25,478,300 |
8% |
|
Fines |
3,281,400 |
3,535,800 |
3,093,900 |
3,398,600 |
3,128,500 |
5% |
-7% |
13,309,700 |
12,142,300 |
10% |
|
Kumba production by mine |
|
|
|
|
|
|
|
|
|
|
|
Sishen |
6,538,200 |
7,528,300 |
6,876,800 |
7,071,200 |
6,583,400 |
-1% |
-13% |
28,014,500 |
25,764,000 |
9% |
|
Kolomela |
3,163,100 |
3,260,300 |
2,940,800 |
3,483,500 |
3,134,200 |
1% |
-3% |
12,847,700 |
11,856,600 |
8% |
|
Kumba sales volumes(2) |
10,690,300 |
9,965,700 |
9,406,000 |
10,230,200 |
10,285,700 |
4% |
7% |
40,292,200 |
40,449,200 |
0% |
|
Export iron ore(2) |
10,690,300 |
9,965,700 |
9,406,000 |
10,123,100 |
10,285,700 |
4% |
7% |
40,185,100 |
40,091,500 |
0% |
|
Domestic iron ore |
— |
— |
— |
107,100 |
— |
n/a |
n/a |
107,100 |
357,700 |
-70% |
|
|
|
|
|
|
|
Minas-Rio production |
|
|
|
|
|
|
|
|
|
|
|
Pellet feed (wet basis) |
5,349,500 |
6,099,500 |
5,877,700 |
5,618,700 |
6,465,600 |
-17% |
-12% |
22,945,400 |
24,081,500 |
-5% |
|
Minas-Rio sales volumes |
|
|
|
|
|
|
|
|
|
|
|
Export – pellet feed (wet basis) |
6,085,400 |
5,853,100 |
5,567,600 |
5,486,200 |
6,314,500 |
-4% |
4% |
22,992,300 |
23,791,900 |
-3% |
(1)
Total iron
ore is
the sum
of Kumba
and Minas-Rio
and reported
in wet
metric tonnes.
Kumba product
is shipped
with ~1.6%
moisture and
Minas-Rio product
is shipped
with ~9%
moisture.
(2)
Sales
volumes
differ
to
Kumba's
standalone
results due to
sales to
other Group
companies. |
