- Anglo American (OTCQX:AAUKF, OTCPK:AAUKY) raises production guidance for its Minas Rio iron ore operation in Brazil but cuts forecasts for its Kumba iron ore project in South Africa and metallurgical coal production for the next two years.
- Anglo says it now expects full-year iron ore output from Minas Rio at 23M metric tons this year, up from 20M-22M mt previously, and sees production of 22M-24M mt in 2020 and 24M-26M mt in 2021, also higher than previously expected.
- But the miner also cuts its Kumba production outlook for both 2020 and 2021 to 43M-44M mt from previous guidance of 43M-45M mt.
- Anglo also cuts its forecasts for met coal production to 22M-24M mt for 2020 and to 23M-25M mt for 2021, after previously guiding for 23M-25M mt in 2020 and 25M-27M mt for 2021.