Anglo American has reached a year-long iron ore supply agreement with China Mineral Resources Group (CMRG), according to a person familiar with the matter, reported Bloomberg.
The deal, covering deliveries from 1 April 2026 will continue till 31 March 2027 and involves iron ore from Anglo American’s South African subsidiary, Kumba Iron Ore, and does not include ore produced at the company’s Minas-Rio project in Brazil.
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The new contract brings Anglo American in line with BHP Group, which also finalised a supply agreement with CMRG earlier this year.
CMRG is a state-backed group acting on behalf of more than half of China’s steelmakers in procurement discussions with global iron ore miners.
Kumba Iron Ore referred to the agreement during an earnings call with analysts in late July but did not disclose further details on contract size or terms.
Anglo American global head of sales and trading Ebrahim Dadoo said during the call to the news agency: “We’ve had very constructive engagements with CMRG, we’ve got an agreement in place with them as of the first of April, and that does impact our products that we sell to CMRG member mills.”
He added that iron ore volumes supplied under the CMRG contract represent a small portion of Anglo American’s total output, noting that about 54% of the company’s production is sold into China through various channels, including spot sales and non-CMRG contracts.
According to company figures, Kumba Iron Ore sold approximately 37 million tonnes (mt) of its higher-grade product in 2025.
A spokesperson for Anglo American declined to provide additional comment.
CMRG did not immediately respond to a request for information.
BHP and Fortescue have faced lengthy negotiations with CMRG, with the outcome of contract renewals set to be a focus in the coming year.
