Transnet headaches will cost Kumba billions in lost sales
Africa’s largest iron ore miner flags rail and port troubles as its knocks 1-million tonnes off its full-year forecast
20 July 2021 - 10:40
UPDATED 20 July 2021 - 22:58
Even as Africa’s largest iron ore miner expects a near tripling of interim profit due to sharply higher prices for the main steel ingredient and improved exports, it remains concerned about SA’s rail network.
JSE-listed Kumba Iron Ore, an Anglo American subsidiary, dropped its full-year sales guidance by 1-million tonnes because of rail constraints linking its mines to Saldanha harbour and adverse weather at the start of the year...
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