BizNis Africa
Latest News
South African Reserve Bank appoints new advisor for governors
The South African Reserve Bank (SARB) has appointed Fundi...
Deloitte Africa unveils 2018 Outlook for Emerging Market insights
The year 2017 saw Emerging Markets (EMs) become the...
African Real Estate demand soars
Demand for investment in African real estate is expected...
deVere Group launches cryptocurrency app in South Africa
A cryptocurrency app is to be launched by one...
African Economic Outlook 2018 officially launched in Côte d’Ivoire
The African Development Bank (AfDB) has officially launched the...
How to make the tax act work for you
South Africa has a highly favourable tax environment for...
Vumile Msweli
Vumile Msweli is the Chief Executive Officer at Hesed...
Royal Bafokeng Platinum gets approval for Maseve mine acquisition
Royal Bafokeng Platinum (RBPlat) announced today, 17 January 2018,...
Ghana fast tracks EMV migration
Gemalto, a digital security company is providing its PURE...
ICRC and Tony Elumelu Foundation empower Nigerian entrepreneurs
The International Committee of the Red Cross (ICRC) and...

Themba Mkhwanazi, Kumba Iron Ore CEO

Kumba Iron Ore Limited (Kumba) today, 24 April 2017, released its production and sales report for the quarter ended 31 March 2017.

Throughout this report, production and sales volumes referred to are 100% of Sishen Iron Ore Company Proprietary Limited (SIOC) and attributable to shareholders of Kumba as well as the non-controlling interests in SIOC.

Sishen production increased by 31% to 7.7Mt due to improved mining productivity, resulting in higher plant throughput. As expected, production decreased 10% on the previous quarter as Q4 2016 benefitted from greater access to low strip ratio ore.

Waste removal of 34Mt, in line with Q1 2016, was hampered by higher than expected rainfall during the quarter however, mining rates improved in the latter part of the quarter to levels required to meet full year guidance of 150-160Mt.

Kolomela production increased by 3% to 2.8Mt compared to Q1 2016, driven by higher plant throughput. Q1 2017 production versus that in Q4 2016, was down 10% due to rain stoppages.

Waste mined increased by 32% to 10.1Mt in support of production growth and ongoing improvements in operational and mining efficiency. Going forward, waste removal is expected to improve to meet full year guidance for 2017 of 50-55Mt.

Export sales rose by 7% to 10.1Mt compared to Q1 2016. Total finished product stocks were 3.2Mt, compared with 3.5Mt at 31 December 2016, in line with optimum level of approximately 3Mt.

Leave a Reply

Ver peliculas online
%d bloggers like this: