Kumba cuts export forecasts after Transnet disruptions
The iron ore producer expects shipments for 2022 to decline by 6%, though total output will remain at the lower at the lower end of its earlier guidance
27 October 2022 - 14:23
SA’s largest iron producer Kumba Iron Ore has lowered its full-year export guidance by about 6% as a result of a recent strike at Transnet and other disruptions in the rail and port operator’s services.
“The combined effect of low levels of finished stock at Saldanha Port due to rail constraints year-to-date and industrial action at Transnet in October, has necessitated a revision to our full-year 2022 export sales guidance from 38-40 million tonnes (Mt) to 36-37Mt,” Kumba CEO Mpumi Zikalala said in a production update on Thursday...
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