Kumba Iron Ore secured a one-year supply agreement with China Mineral Resources Group (CMRG). This state-backed entity manages iron ore procurement for Chinese steel mills. The contract runs from April 1, 2026, to March 31, 2027. This move follows a similar supply deal recently established by BHP.
The agreement covers a portion of Kumba’s premium, higher-grade iron ore. Anglo American currently sells an estimated 54% of its total iron ore output to China. The CMRG contract volume is estimated at 8 to 10 million tons. This volume represents a relatively small portion of Anglo American’s total portfolio.