With almost 8 million tonnes of iron ore stocked at its operations - and some even spilling over into a nearby field - Kumba's CEO says it's run out of space to store iron ore at its Northern Cape mines as Transnet Freight Rail struggles to move the product to port efficiently.
"We ended off the [2022] year, from a product stockpile perspective, at 7.8 million tonnes. And the challenge is that only 800 000 tonnes were sitting at the port," said Kumba CEO Mpumi Zikalala."From a mining perspective, the reason why both Kolomela and Sishen [iron ore mines] couldn't deliver more, was because we actually ran out of space for our product."
The impact of the inadequate rail performance on Kumba in 2022 is estimated to be R10 billion,"so it is quite significant," Zikalala said. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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