News Formal

Kumba Iron Ore continues shipments from mines and stocks

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Nigeria News News

It also had 6.4-million tonnes of processed ore stockpiled by the end of 2019 as domestic demand dried up

Kumba Iron Ore, Africa's largest supplier of the steelmaking mineral, will continue mining, railing and shipping of its products, tapping into its stockpiles at the Saldanha port to supply customers.

It had 6.4-million tonnes of processed ore stockpiled by the end of 2019 as domestic demand dried up because of the closure of ArcelorMittal's Saldanha steel mill. Kumba has received permission from the department to continue mining, but with a 50% reduction in staffing levels, while Transnet Freight Rail has agreed to provide trains and port facilities to move ore out of SA.

Prices of ore with a 62% iron content have increased and are now about $84/tonne, with contracts for May deliveries to China rising above $93/tonne.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Glencore closes some operations in four countries over coronavirus curbs - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Glencore PLC on Thursday halted a number of smaller mines due to government restrictions to curb the spread of the coronavirus, but added its larger operations were not materially impacted SABCNews
Source: SABC News Online - 🏆 32. / 51 Read more »