Anglo American’s Kumba Iron Ore has agreed a year-long supply deal with China’s state-backed iron ore buyer, China Mineral Resources Group (CMRG), Bloomberg reports.
The agreement follows a similar year-long deal between BHP and CMRG, reached after months of talks and restrictions and involving more yuan-based pricing.
Fortescue, meanwhile, remains in negotiations with the Chinese buyer.
Kumba will supply iron ore to CMRG member mills from April 1, 2026 to March 31, 2027. The agreement excludes ore from Anglo’s Minas-Rio operation in Brazil.
CMRG represents more than half of China’s steelmakers in procurement negotiations with global miners.
Kumba confirmed in July that it had reached an agreement with CMRG but did not disclose its duration or terms.
Kumba sold about 37 million tons (Mt) of its premium, higher-grade iron ore in 2025.
Anglo’s global head of sales and trading, Ebrahim Dadoo, said about 54% of its output is sold into China, including through spot sales and long-term contracts outside CMRG.
Dadoo said volumes covered by the CMRG agreement were “fairly small” relative to Anglo’s overall portfolio.
Bloomberg estimates Kumba could supply CMRG with about 8Mt to 10Mt.
Attention will now turn to what happens when the agreements come up for renewal next year and whether CMRG seeks further concessions from miners.
