20
Jul
11:43
Shipment disruptions lower Kumba sales guidance, earnings surge
Kumba Iron Ore has revised down 2021 sales guidance by 1 million tonnes to 39-40mt. The South African miner saw sales in the second quarter rise 12% on-year to 9.2mt from the Covid-19-impacted Q2 2020. But they fell 10% on Q1 2021 due to June’s shipment disruption resulting from equipment breakdown and inclement weather at Saldanha Port, Kallanish notes.
This is also the reason for the guidance revision, as are the rail constraints seen in the first fou…
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