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Kumba Iron Ore Limited production and sales report for the quarter ended 31 December 2014

28 January, 2015

Kumba Iron Ore Limited ("Kumba") today released its production and sales report for the quarter ended 31 December 2014. Throughout this report, production and sales volumes referred to are 100% of Sishen Iron Ore Company Proprietary Limited ("SIOC"), and attributable to shareholders of Kumba as well as the non-controlling interests in SIOC.

Overview:

– Total production increased by 10% compared to Q4 2013 and decreased by 4% compared to the previous quarter to 12.4 Mt in line with the production plan.

– Strong performance at Kolomela mine continued with 2.7 Mt produced for the quarter, in line with Q4 2013 and down by 19% compared to the previous quarter’s record performance in line with the production plan.

– Total export sales volumes increased by 23% to 11.7 Mt compared to Q4 2013 and by 29% compared to the previous quarter.

Unaudited production summary

‘000 tonnes Quarter % change Quarter % change % change
Q4 2014 Q4 2013 Q4 2014
vs

Q4 2013
Q3 2014 Q4 2014
vs
Q3 2014
FY14 FY13 FY14
vs
FY13
Total 12,432 11,286 10 12,972 (4) 48,197 42,373 14
- Sishen mine 9,286 8,395 11 9,260 - 35,541 30,938 15
DMS plant 5,909 5,778 2 6,019 (2) 22,911 20,374 12
Jig plant 3,377 2,617 29 3,241 4 12,630 10,564 20
- Kolomela mine 2,728 2,740 - 3,379 (19) 11,568 10,809 7
- Thabazimbi mine 418 151 176 333 25 1,088 626 74
Unaudited sales summary
‘000 tonnes Quarter % change Quarter % change % change
Q4 2014 Q4 2013 Q4 2014
vs

Q4 2013
Q3 2014 Q4 2014
vs
Q3 2014
FY14 FY13 FY14
vs
FY13
Total 12,601 10,836 16 10,188 24 45,288 43,708 4
- Export sales 11,699 9,530 23 9,059 29 40,468 39,076 4
- Domestic sales 902 1,306 (31) 1,129 (20) 4,820 4,632 4
Sishen mine 551 1,118 (51) 818 (33) 3,853 3,927 (2)
Thabazimbi mine 351 188 87 311 13 967 705 37

Sishen mine produced 9.3 Mt, an increase of 11% compared to Q4 2013 and in line with the previous quarter. Waste removal increased by 20% to 50 million tonnes. Total waste mined for 2014 was 187 million tonnes, up 12% compared to the prior year. While this is below the previously announced 2014 target of 220 million tonnes, the redesign of the western pushbacks of the pit, in conjunction with increased vertical rate of advance and current waste removal run rates means sufficient ore has been exposed to support the 2015 production target of 36 million tonnes.

Kolomela mine continued to perform strongly, producing 2.7 Mt for the quarter, in line with Q4 2013 and down 19% on the record production of the previous quarter.

Production at Thabazimbi mine more than doubled compared to Q4 2013 and increased by 25% compared to the previous quarter, to 0.4 Mt.

Total export sales volumes of 11.7 Mt increased by 23% compared to Q4 2013 and by 29% compared to the previous quarter, partly as a result of shipments through Saldanha’s Multi-Purpose Terminal.

Domestic sales volumes of 0.9 Mt decreased by 31% compared to Q4 2013 and by 20% compared to the previous quarter.

Total finished product stockpile levels were 6.5 Mt as at 31 December 2014 compared to 2.9 Mt as at 31 December 2013 and 6.5 Mt as at 30 September 2014.