Norman Mbazima
Photo by: Duane Daws
JOHANNESBURG (miningweekly.com) – Quarter-on-quarter and year-on-year output from Kumba Iron Ore has tumbled considerably, along with exports.
First-quarter production has taken a plunge on both counts.
The 8.9-million tonnes in the three months to March 31 were 27% down on the first quarter of 2015 and 18% down on the December quarter, with export sales 18% and 11% lower.
The flexibility-stifled Sishen mine, where full-year guidance is being kept unchanged at 27-million tonnes, produced a 34%- and 24%-lower 5.8-million tonnes and Kolomela a 9%- and 5%-lower 2.7-million tonnes.
Export sales from Kolomela – where full-year guidance is also remaining unchanged at 40-million tonnes – fell 18% to 9.4-million tonnes on lower production.
Finished product stocks of the company headed by CEO Norman Mbazima were down to 3.2-million tonnes from 4.7-million tonnes at the end of 2015.
Domestic sales fell 19% quarter-on-quarter but doubled 1.2-million tonnes when compared with the three months to December 31.