Kumba Iron Ore has lowered its production and sales prediction for 2022 due to heavy rain and problems with the reliability of its equipment caused by a global shortage of heavy mobile equipment spares, the Covid-19 pandemic and geopolitical disruptions.
SA’s largest iron producer revised its production and sales guidance from 39-million tonnes to 41-million tonnes, to 38-million tonnes to 40-million tonnes, it said in a production and sales report on Thursday for the quarter to end-March. Total production was down 21% to 8.3-million tonnes, and total sales down 8% to 9.5-million tonnes in the first quarter...
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