Overview:

  • Sishen production up 38% to 7.9Mt due to improved mining productivity.
  • Export sales up 8% to 9.4Mt on the back of a 28% increase in total production.
Production summary
'000 tonnes Quarter ended % change Quarter % change
Q2 2017 Q2 2016 vs
Q2 2016		 ended
Q1 2017 		vs
Q1 2017
Total 11,382 8,864 28 10,473 9
- Sishen mine 7,872 5,700 38 7,679 3
DMS plant 4,909 3,395 37 4,795 2
Jig plant 2,963 2,305 40 2,884 3
- Kolomela mine 3,510 3,164 11 2,794 26
Sales summary
'000 tonnes Quarter ended % change Quarter % change
Q2 2017 Q2 2016 Q4 2016
vs
Q4 2015		 Q3 2016 Q4 2016
vs
Q3 2016
Total 10,348 9,666 7 10,886 (5)
- Export sales 9,423 8,730 8 10,053 (6)
- Domestic sales 925 936 (1) 833 11
Sishen mine 925 699 32 833 11
Thabazimbi mine - 237 (100) - -

Sishen production increased by 38% to 7.9Mt due to improved mining productivity as a result of fleet efficiencies and higher plant yields. Waste removal increased by 38% to 42.7Mt, compared to 31.1Mt in Q2 2016 (H1 2017: 76.6Mt). Sishen's solid and consistent performance and ongoing improvements since the restructuring have resulted in guidance being revised. Sishen is expected to produce between 28-29Mt of iron ore in 2017 and 155-165Mt of waste.

Kolomela production increased to 3.5Mt, up 11% compared to Q2 2016, due to productivity improvements. Waste mined increased by 22% to 15.3Mt through ongoing improvements in operational efficiency. Kolomela is on track to meet full year production and waste guidance for 2017 of 13-14Mt and 50-55Mt respectively.

Export sales increased by 8% to 9.4Mt compared to Q2 2016. Total finished product stocks were 4.4Mt, compared to 3.5Mt at year end. Sales volumes were delayed to H2 due to unfavourable weather at Saldanha port. Full year sales guidance has been increased to 41-43Mt.

Download the Kumba Iron Ore Limited production and sales report for the quarter ended 30 June 2017

Kumba Iron Ore Ltd. published this content on 20 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 July 2017 07:18:07 UTC.

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