South Africa-based iron ore mining company Kumba Iron Ore’s sales rose by 7pc to 10.90mn mt in Q3 (July-September) of 2020, compared to the prior-year period. The iron ore production in the quarter, however, fell by 9pc to 9.53mn mt from 10.521mn mt in the prior-year quarter, according to a company statement.
Of the total sales, exports in Q3 rose by 13pc to 10.988mn mt from 9.67mn mt in the prior-year quarter. The sales also witnessed a 35pc increase, compared to the prior quarter. Domestic sales dropped by 100pc from the prior-year quarter and prior quarter.
In terms of production, Sishen mine produced 6.5mn mt of iron ore in Q3, down by 9pc from the preceding year quarter. The production, however, rose by 12pc, compared to Q2 of 2020. Kolomela mine’s iron ore output declined by 10pc to 3.02mn mt over same period last year, while it declined by 12pc from the previous quarter.
Kumba Iron Ore Limited, a member of the Anglo-American plc group, is a value-adding supplier of high-quality iron ore to the global steel industry. Kumba produces iron ore in South Africa at Sishen and Kolomela mines in the Northern Cape Province and exports iron ore to China, Japan, Korea, Europe and the Middle East.