JOHANNESBURG - Mining company Kumba Iron Ore Limited said on Thursday output in the fourth quarter of 2017 fell two percent to 11.6 million tonnes from 11.9 million tonnes during the same period in 2016.
It said production at its Sishen mine decreased by 8 percent to 7.8 million tonnes in Q4 2017 versus the comparable quarter the previous year, but Kolomela output rose 12 percent to 3.9 million tonnes, mainly due to productivity improvements.
Export sales increased by 7 percent to 11.4 million tonnes, mainly due to improved loading rates, while total finished product stocks were 4.3 million tonnes compared to 3.5 million tonnes in the fourth quarter of 2016.
Full year production of 45 million tonnes exceeded recent guidance, and was up from 41.5 million tonnes in 2016.