23
Feb
15:15
Kumba's earnings surge as estimated reserves expand
Kumba Iron Ore reported a 25% on-year growth in 2020 revenue to ZAR 80.1 billion ($5.47 billion), while net profit surged 40% to ZAR 29.8 billion. The firm’s total reserves at end-December 2020 were estimated at 729.9 million tonnes at 58.8% Fe, up 6% from 691.7mt at 59% Fe a year earlier.
Sales growth was thanks to higher prices, with Kumba’s average realised iron ore export price increasing 19% to $115/tonne in 2020. This was partially offset by…
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Anonymous
Very good overview of the weekly steel market.
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