03
Feb
09:38
Kumba fourth-quarter sales diminish on logistics disruptions
South African iron ore miner Kumba, a subsidiary of Anglo American, says state-owned rail and port operator Transnet-related challenges in the fourth quarter of 2022 led to sales reduction by 35% on-year to 6.9 million tonnes. However, production inched up 3% to 10mt from 9.7mt in Q4 2021, Kallanish notes.
"Transnet's poor performance continuing subsequent to the two-week wage strike in October 2022 and the annual maintenance shutdown in Novembe…
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