R3.2bn. Lost. Not only to Kumba Iron Ore but to its shareholders too. And a large percentage of that will not flow into government coffers at a time when every cent is needed, not least to help rebuild KwaZulu-Natal.

Kumba told the market on Tuesday it had cut 1-million tonnes from its full-year sales target because of rail and port constraints and on a trailing average price of $220 (R3,224) a tonne. It is a big chunk of revenue not flowing into the SA economy...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now