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.
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Unaudited production summary |
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| ‘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.