Kumba Iron Ore output stable, as Kolomela offsets setback at Sishen
Kumba says it is on track to meet full-year targets despite the derailment on the Sishen-Saldanha line
Kumba Iron Ore’s first-quarter sales were largely unchanged from a year earlier, with a good performance at the Kolomela mine offsetting lower output from the flagship Sishen mine. Kumba, the JSE-listed subsidiary of Anglo American, noted a 4% increase in group production, driven entirely by a 26% increase at Kolomela, which supplied 3.5-million tonnes of iron ore during the first three months of the year. Total sales for the quarter were 1% lower at 10.83-million tonnes, with domestic sales up by 6% to 885,000 tonnes. A derailment on the railway line from Sishen to the Saldanha port cut sales by 1.1-million tonnes. “Kumba is working closely with Transnet to mitigate derailments and currently expects to meet full-year guidance with total sales of 44-million to 45-million tonnes,” Kumba said, adding it had stockpiles of 4.6-million tonnes, which was 300,000 tonnes higher than at the end of 2017. Sishen’s output was down 5% to 7.3-million tonnes compared with the same quarter a year e...
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