Anglo American warns on iron ore, coal production
By Frank Prenesti
Date: Friday 27 Mar 2020
(Sharecast News) - Mining giant Anglo American warned of lower iron ore and coal production in response to the coronavirus pandemic as national governments imposed lockdowns.
Anglo American on Friday said it expected a 2m - 3m tonne fall in production at its Kumba Iron Ore unit in South Africa this year and a decrease of up to 2m tonnes in output of export coal due to a three-week shutdown.
The company also cut output of platinum and diamonds in South Africa, extended a slowdown in construction at its Quellaveco copper project in Peru and said work in its Woodsmith polyhalite project in the UK would be paused.
Governments have imposed or extended lockdowns to contain the pandemic, restricting movement and shutting down non-essential businesses.
Anglo said the Sishen and Kolomela mines, part of the Kumba iron ore project, would continue to operate with a 50% level of workforce, while De Beers' Venetia mine would operate with a 75% reduced workforce.
In Peru, where the company had temporarily withdrawn the majority of employees and contractors from its Quellaveco copper project and significantly reduced construction work, the government extended its initial 15-day national quarantine period by 13 days to April 12.
In the UK, meanwhile, Anglo American said it was in the process of pausing most construction and development activity on its Woodsmith polyhalite project after the government ordered a lockdown on Monday.
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