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.