Kumba Iron Ore’s full-year production comes in better than expected
Kumba Iron Ore, SA’s largest producer of the key steel-making ingredient, reported better than expected annual production from its two mines in the Northern Cape.Kumba, which is majority owned by Anglo American, said total iron ore production was 8% higher at 45-million tonnes for the year to end-December.The flagship Sishen mine increased output by 10% to 31-million tonnes and the Kolomela mine, about 80km away, reported 14-million tonnes, a 9% increase.There were no fatalities at either opencast mine during the year.Sales volumes increased, with exports rising 7% to 41.6-million tonnes while domestic sales, largely to ArcelorMittal SA, the country’s largest steel maker, falling by 4% to 3.28-million tonnes.Kumba ramped up the output of its lumpy ore by 11% to 30-million tonnes. Lumpy ore fetches a premium in the iron ore market compared with the fine material, which looks like sand.The amount of stockpiled ore ready for sale increased to 4.3-million tonnes by the end of December f...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.