Kumba's Kolomela mine offsets Sishen's reduced production
According to Business Live, Kumba Iron Ore increased its output forecast from its new Kolomela mine, which is ramping up to steady state production next year.
Kolomela played an important role in the first half of this year, offsetting reduced production from Kumba's flagship Sishen mine, where rain and absenteeism resulted in Sishen's output to be four percent lower, on a year-on-year basis. According to Business Live, Kolomela mine will produce nine million tons when it reaches steady state next year.
Kumba is involved in a suspended arbitration process with its largest customer in South Africa, ArcelorMittal SA, over a disputed supply agreement under which the country's largest steel maker had rights to 6,25-million tons of ore a year at cost plus three percent, Business Live reports.
Read the full article on www.businesslive.co.za
Related
