Global miner Anglo American’s South African subsidiary Kumba Iron Ore has announced its operational results for the fourth quarter and the full year of 2024.
In the given quarter, Kumba Iron Ore produced 7.82 million mt of iron ore, down by 17.1 percent quarter on quarter and up by 8.1 percent year on year. In particular, output of its Kolomela iron ore mine came to 2.14 million mt, falling by 20.1 percent quarter on quarter and rising by 67.6 percent year on year, while output at its Sishen mine decreased by 15.9 percent quarter on quarter and was down by 4.5 percent year on year to 5.68 million mt. In the fourth quarter, the company’s iron ore sales amounted to 9.13 million mt, increasing by 1.2 percent compared to the previous quarter and down by 2.2 percent from the same period of 2023.
In the whole year, the company produced 35.73 million mt of iron ore, remaining almost stable year on year, while it sold 36.25 million mt of iron ore, decreasing by 2.4 percent year on year. In particular, output of its Kolomela iron ore mine came to 10.07 million mt, declining by 2.1 percent year on year, while output at its Sishen mine increased by 0.9 percent year on year to 25.6 million mt. Kumba’s production and sales were in line with the guidance in 2024.
According to the statement, lower iron ore prices continued to reflect subdued steel demand, coupled with an increase in iron ore supply, with strong steel exports. Kumba achieved an average realized price of $92/wmt for the year.
Kumba anticipates production in the range of 35-37 million mt for 2025, 31-33 million mt for 2026 and 35-37 million mt for 2027. The decrease in production forecast for 2026 is due to the planned shutdown of some plants.