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New UserAnglo American lowered forecasts for iron ore and coking coal production in 2022-2024
16 Dec 2022
In 2022, the
company expects to extract 15 million tons of coking coal
Global mining company Anglo American has
lowered its forecasts for iron ore and coking coal production in 2022-2024.
SteelOrbis reports about it.
In
2022, Anglo American expects to produce 15 million tons of coking coal, in 2023
– 16-19 million tons, in 2024 – 20-22 million tons. Previous forecasts were at
the level of 15-17 million tons in 2022, 16-19 million tons in 2023, and 24-26
million tons in 2024.
According
to Anglo American CEO Duncan Vanblad, the company is still targeting volumes of
28-30 million tonnes of coking coal per year in the long term, but not in
the next three years.
Anglo
American also revised its plans for iron ore production, cutting its forecast
for 2022 to 59 million tons (previously – 60-64 million tons). In 2023, the
company plans to produce iron ore at the level of 57-61 million tons, in 2024 –
at 61-65 million tons. Previous forecasts were 64-68 million tons in 2023, and
67-71 million tons in 2024.
As
Duncan Vanblad noted, the company still firmly believes that demand for
high-grade iron ore will remain strong as steelmakers look to reduce their
emissions. According to him, the company has established partnerships with
several steel producers to further increase the efficiency of blast furnaces
through the use of quality raw materials. In addition, the CEO of Anglo
American noted that the company will target products to steelmakers using DRI
technology where it is possible.
Anglo
American is one of the largest mining companies in the world with production
sites in South Africa, South America and Australia and headquarters in the UK.
As GMK Center reported earlier, the
Brazilian corporation Vale plans until 2030 achieve production of iron ore at the level of
more than 360 million tons per year. In 2022, the company expects to extract
310 million tons of iron ore, in 2023 – 310-320 million tons, in 2026 – 340-360
million tons.