JSE-listed Kumba Iron Ore has seen an increase in Sishen production as a result of improved mining productivity, driven by fleet efficiency and higher plant yields.In addition to increasing overall production, Kumba Iron Ore reports that waste removal increased to 43 Mt compared to 31 Mt in Q2, 2016 (H1 2017: 77 Mt).
It also states Kolomela production increased by 11% to 3.5 Mt, underpinned by productivity improvements over the same period.
Waste removal increased by 22% to 15 Mt (H1 2017: 25 Mt) and export sales increased by 8% to 9.4 Mt.
Total finished product stocks were 4.4 Mt (3.5 Mt at 31 December 2016) as a result of higher production at Sishen and sales volumes delayed to H2, 2017 due to unfavourable weather conditions at Saldanha port.
Full year guidance
Full year production guidance for Kumba Iron Ore has been increased to between 41 and 43 Mt (previously 40 – 42 Mt) as a result of the improved performance at Sishen.