Kumba’s full-year output falls despite strong fourth-quarter performance
Kumba Iron Ore’s full-year output fell by 8% compared with a year earlier, despite a strong performance in the final quarter of the year at its two mines in the Northern Cape. Kumba, a subsidiary of Anglo American, reported its flagship Sishen mine produced 28.4-million tonnes of ore last year, ahead of its 27-million tonnes target, while its Kolomela mine notched up a record 12.7-million tonnes, above the nameplate capacity of the mine of 12-million tonnes. Despite these performances, annual output of 41.48-million tonnes was 8% lower than the year before. Anglo has put Kumba and a number of assets up for sale as the diversified company wanted to focus on three core divisions in platinum, copper and diamonds.
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