Kumba posts solid results, sees no threat to sales from coronavirus
Impact of outbreak on business with China has been muted, says Africa’s largest iron-ore miner
18 February 2020 - 10:20
Kumba Iron Ore expects the coronavirus outbreak in China, which is unsettling the market for the steel ingredient, to have a muted effect on its sales and for demand to recover by the second quarter of 2020.
Kumba, a 79%-owned Anglo American subsidiary, had a strong 2019, with iron-ore prices rising 35% to R1 457 a tonne leading to free cash flow more than doubling to R17bn. A final dividend of R15.99 a share brought the full-year return to shareholders to R46.78 a share, which equated to 92% of headline earnings, well above the group’s dividend policy...
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.