Kumba Iron Ore continues shipments from mines and stocks

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.

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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
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