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20 Feb

Kumba increases iron ore export prices, decreases production

In a challenging year, Anglo American’s South African subsidiary, Kumba Iron Ore, managed to increase its iron ore sales by 1.6% on-year to 37.2 million tonnes in 2023. A recovery in iron ore markets in late 2023 and weaker exchange rates contributed to 3.5% average realised fob export price growth to $117 per wet metric tonne, Kallanish notes. Kumba's 2023 revenue surged 16.5% on-year to ZAR 86.2 billion ($4.53 billion). The miner posted net profit of Zā€¦
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