Kumba’s Kolomela mine in the Northern Cape.
Kumba Iron Ore was forced to slow its production during the last quarter of 2023 to reduce a growing stockpile prompted by railway woes.
The Anglo American subsidiary, which employed about 11 000 people in 2022 including contractors, also announced on Tuesday that it would look to cut up to 490 jobs as it rethinks its required medium-term production footprint. It will also review some 160 supplying companies with the possibility that some of their services will be reduced or terminated.
The company said on Tuesday production fell 5.3% to 35.7 million tonnes in its year to end-December, saying it took “decisive action” to slow overall production in the fourth quarter after product stockpiles peaked at unsustainable levels.
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