Anglo’s guidance for export thermal coal unchanged
LONDON – In its ‘Production Report for the fourth quarter ended 31 December 2020’ Anglo American reports that the South Africa export thermal coal production decreased by 10% to 4.1 million tonnes despite strong underlying operational performance, as the mines continued to operate at c. 90% capacity due to the impact of Covid-19 measures to help safeguard the workforce, as well as the impact of sections at Goedehoop reaching their end of life.
Thermal Coal, Colombia – Attributable export thermal coal production decreased by 85% to 0.3 million tonnes as a result of a three month strike, which ended in the first week of December.
The full year weighted average realised price for export thermal coal from South Africa and Colombia was $55/tonne (South Africa: $57/tonne; Colombia: $46/tonne). This was 11% lower than the weighted average quoted FOB price from South Africa and Colombia, largely due to quality discounts relative to the industry benchmark.
Production guidance for export thermal coal is unchanged at c.24 million tonnes (Export South Africa c.16 million tonnes; Colombia c.8 million tonnes (attributable share)), subject to the extent of further Covid-19 related disruption.
