Anglo American Raises Minas-Rio Guidance; Cuts Kumba, Coal Outlook

Date : 11/12/2019 @ 8:19AM
Source : Dow Jones News
Stock : Anglo American (QX) (NGLOY)
Quote : 13.79  0.25 (1.85%) @ 6:45PM

Anglo American Raises Minas-Rio Guidance; Cuts Kumba, Coal Outlook

Anglo American (LSE:AAL)
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   By Adria Calatayud 
 

Anglo American PLC (AAL.LN) on Tuesday raised production guidance for its Minas Rio iron-ore operation in Brazil, but cut forecasts for its Kumba iron-ore project in South Africa and metallurgical coal output for the next two years.

The FTSE 100-listed mining company said it now expects iron-ore production from Minas-Rio at 23 million tons this year, up from between 20 million and 22 million previously.

Minas-Rio output is now expected at 22 million to 24 million tons in 2020 and between 24 million and 26 million tons in 2021, also higher than previously expected, Anglo American said.

Production from Kumba for both 2020 and 2021 is now forecast at between 43 million and 44 million tons, which compares with previous guidance of between 43 million and 45 million tons, the company said.

Anglo American also cut its production forecasts for metallurgical coal production to between 22 million and 24 million tons for 2020 and to between 23 million and 25 million tons for 2021. It previously expected 2020 production at between 23 million and 25 million tons and 2021 output at between 25 million and 27 million tons.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

November 12, 2019 03:04 ET (08:04 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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