Edition:
United States

Kumba Iron Ore Ltd (KIOJ.J)

KIOJ.J on Johannesburg Stock Exchange

20,654.00ZAc
24 Feb 2017
Change (% chg)

-1,246.00 (-5.69%)
Prev Close
21,900.00
Open
21,720.00
Day's High
21,849.00
Day's Low
20,351.00
Volume
939,981
Avg. Vol
631,145
52-wk High
22,633.00
52-wk Low
6,300.00

Latest Key Developments (Source: Significant Developments)

Kumba Iron Ore says CFO Frikkie Kotzee to step down
Tuesday, 14 Feb 2017 12:06am EST 

Kumba Iron Ore Ltd : Says chief financial officer to step down . Says Frikkie Kotzee, chief financial officer and executive director of company, has decided to step down from his role after five years. .Says board will now begin a search process of internal and external candidates to identify a successor..  Full Article

Kumba Iron Ore reports 131 pct rise in FY HEPS to 27.3 rand/shr
Tuesday, 14 Feb 2017 12:05am EST 

Kumba Iron Ore Ltd : Summarised annual financial results for year ended Dec.31 2016 . Production of 41.5 mt, Sishen and Kolomela exceeding FY targets . Says FY HEPS of 27.30 rand per share, up 131 pct . Says 34 pct reduction in controllable FY costs . Says average cash breakeven price reduced to $29/tonne on back of an average realised price of $64/tonne . Says normalised earnings were 108 pct higher than comparative period at 27.10 rand per share (2015: 13.02 rand per share). . Says basic earnings rose to 26.98 rand per share, compared to 1.46 rand per share in 2015 which was impacted by impairment charge relating to Sishen mine of 6 bln rand . Says Kolomela exceeded expectations yet again, producing 12.7 mt, benefiting from increased throughput . Says total production for year was 41.5 mt, a decrease of 8 pct, in line with planned lower mining volumes at Sishen . Says group's total revenue of 40.8 billion rand for period increased by 13 pct from 36.1 billion rand in 2015 .Says global and local macro-economic and socio-political environment remains challenging despite recent rise in iron ore prices.  Full Article

Kumba says joint Thabazimbi mine to be transferred to ArcelorMittal South Africa
Thursday, 9 Feb 2017 12:30am EST 

ArcelorMittal South Africa Limited : Arcelormittal South Africa/Kumba Iron Ore - Joint Thabazimbi mine to be transferred to Arcelormittal South Africa . Transfer is dependent on certain conditions being met .If conditions are not satisfied by 28 april 2017 (or a later date agreed to by companies), agreement will lapse and sioc will proceed with closure of mine..  Full Article

Kumba Iron Ore full-year production exceeds target
Thursday, 26 Jan 2017 02:00am EST 

Kumba Iron Ore Ltd : Sishen produced 8.5mt up 11 pct on 4Q15 . Run rates during quarter were in line with considerable improvement realised in Q3 2016 following successful completion of its restructuring to a lower cost pit shell . Full year production was 28.4mt exceeding guided target of 27mt . Export sales increased marginally compared to both 3Q16 and 4Q15 to 10.6mt .Total finished product stocks were 3.5mt, compared to 3.1mt at 30 September 2016.  Full Article

Kumba Iron Ore sees FY HEPS higher by at least 20 pct
Friday, 2 Dec 2016 03:22am EST 

Kumba Iron Ore Ltd : Trading statement for the year ending Dec. 31 2016 . Sees FY headline earnings and basic earnings at least 20 pct higher, an increase of at least 758 mln rand and 94 mln rand, respectively . Expected increase in earnings largely attributable to increase in export iron ore prices during year, weaker ZAR/US$ exchange rate .FY HEPS and EPS are also likely to be at least 20 pct higher translating to an increase of 2.36 rand and 0.30 rand, respectively.  Full Article

Anglo American sees $143 mln in H1 underlying earnings from Kumba Iron Ore Ltd
Tuesday, 26 Jul 2016 02:00am EDT 

Anglo American Plc :Will report underlying earnings in respect of Kumba Iron Ore Limited of $143 million for six months ended 30 June 2016.  Full Article

Kumba Iron Ore says H1 HEPS up 20 pct to 9.41 rand
Tuesday, 26 Jul 2016 01:15am EDT 

Kumba Iron Ore Ltd : JSE: KIO - reviewed interim financial results for the six months ended June 30 2016 and changes in directorate . Says heps of r3 billion, r9.41 per share, up 20% . Says balance sheet strengthened to net cash position of r548 million . Says substantial r3.1 billion reduction in controllable costs . Production and waste is expected to be about 27 mt and about 150 mt from 2017 - 2020, respectively. . Full year guidance has therefore been reduced to about 38 - 39 mt compared to previous guidance of 40 mt . Iron ore prices are expected to remain under pressure in short to medium term . H1 production reduced by 21% to 17.8 mt consistent with revised sishen mine plan . No interim dividend . Average index iron ore prices (cfr china 62% fe) in first half of 2016 were down 13%, from $60/tonne in 1h 2015 to $52/tonne . Says 61% reduction in capital expenditure to r1.3 billion . Says now much more resilient and better positioned for lower prices. . Estimated capital expenditure for second modular plant at sishen is expected to be about r400 - r600 million . Targets a cash breakeven price of between $32-$40/tonne cfr for 2016. Volatility in non-controllable costs anticipated to continue.  Full Article

Anglo American says Themba Mkhwanazi appointed CEO of Kumba Iron Ore
Tuesday, 26 Jul 2016 01:07am EDT 

Anglo American Plc : Appointment of Themba Mkhwanazi as CEO of Kumba Iron Ore Limited . July Ndlovu appointed ceo of anglo american's coal business in south africa, to replace Themba Mkhwanazi .Appointments of Mkhwanazi will take effect on 1 september 2016.  Full Article

Anglo American cuts FY copper, iron ore Brazil production guidance
Wednesday, 20 Jul 2016 02:00am EDT 

Anglo American Plc : Anglo american q2 production report . Q2 platinum production (expressed as metal in concentrate) (2) increased by 1% to 585,700 ounces . Q2 copper production from retained operations decreased by 8% to 144,200 tonnes . Q2 iron ore production from kumba decreased by 15% to 8.9 million tonnes as sishen restructured . Q2 iron ore production from minas-rio increased by 91% to 3.5 million tonnes (wet basis) as operation continues its ramp-up. . Q2 export metallurgical coal production increased by 4% to 5.5 million tonnes . Q2 export thermal coal production decreased by 6% to 8.1 million tonnes . Full year copper production guidance cut to 570,000 - 600,000 tonnes for 2017 (previously 590,000 - 620,000 tonnes) . Full year copper guidance cut owing to severe winter weather experienced at los bronces during quarter . Q2 manganese ore production was broadly in line with q2 2015 . Q2 diamond production decreased by 19% to 6.4 million carats . Q2 nickel production increased by 76% to 11,100 tonnes following successful completion of barro alto furnace rebuilds in 2015 . Full year copper production guidance has been revised down to 570,000 - 600,000 tonnes for 2016 (previously 600,000 - 630,000 tonnes).  Full Article

Kumba Iron Ore Q2 production decreases by 15 pct
Wednesday, 20 Jul 2016 02:00am EDT 

Kumba Iron Ore Ltd : Production decreased by 15 pct to 8.9 mt consistent with revised sishen mine plan for the quarter ended June 30 .Quarterly total sales of 9.7 mt (0.8 mt higher than production), a 26 pct decrease as stock levels reduced further.  Full Article

More From Around the Web

South Africa's Kumba says resuming dividend is 2017 priority

JOHANNESBURG, Feb 14 The chief executive of South Africa's Kumba Iron Ore said on Tuesday that resuming dividend payouts was a priority this year.