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Kumba Iron Ore Ltd Declares FY 2012 Final Cash Dividend and Issues Production Guidance for FY 2013.

Tuesday, 12 Feb 2013 01:00am EST 

Kumba Iron Ore Ltd announced that the final cash dividend of ZAR 0.0125 per share has been declared in respect of the fiscal year 2012, with total dividend for the fiscal year 2012 being ZAR 0.0317 per share. The total dividend for the fiscal year 2011 was ZAR 0.0442 per share. Kumba Iron Ore Ltd also announced that it expects its global crude steel production for the fiscal year 2013 to remain on a similar level as was seen in the fiscal year 2012, with China's crude steel production forecast to grow and reach 740 megatons (Mt), whilst growth in crude steel production in other developing countries is to be counter balanced by reduced production in some of the developed markets. In 2013, Indian iron ore production is to remain under pressure as a result of domestic policy changes, but new supply capacity, primarily from Australia, is expected to partially offset the reduction in Indian supply. Annual production volumes from Sishen mine in India are expected to increase from the 33.7 Mt achieved in 2012, to at least 37 Mt in 2013, which is lower than previously guided due to the knock on effect of the unprotected strike in 2012. Kolomela mines ramp-up is on track to produce at full design capacity of 9 Mt in 2013 which will enhance the Company‚Äôs ability to supply iron ore to the market during 2013. Waste mining at Kolomela mine is anticipated to increase as the new pits are opened up, which will put upward pressure on unit cash costs. 

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19 Dec 2014