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SA's biggest iron ore miner lost 2Md of turnover in the first half due to problems on SA's first rail line, including train cancellations and four derailments, said Tuesday the CEO of Kumba Iron Ore.
"The whole rail system was under pressure and planning for the actual load was often significantly lower than the plan. In addition to the major disruption of derailments in our operations, there have been train cancellations and breaks, "he said.
"This caused losses of 2.4 million tonnes. concerned about the wider implications that this has for the growth of the economy, employment and investment in the country. "
Kumba's turnover for the six-month period to end June fell to R19.5bn from R2 1.5 billion the previous year due to a stronger rand and lower world iron ore prices during the period.
R2bn lost revenue due to rail problems, financial director Bothwell Mazarura
Kumba declared an interim dividend of R14.51 per share, including a one-time supplement beyond its new return policy between 50% and 75% of total profits to investors.Absolute critics criticized this policy by saying that it was not enough and that it was not enough. it distributed dividends consistent with past policies.
Transnet announced Tuesday it has deployed 300 new cars on the line serving Kumba and Assmang 's iron mines shared by African Rainbow Minerals. she did not violate any contract with c Kumba
"Penalties are due if the annual contractual commitments are not met Transnet has not had to pay any penalties during the previous fiscal year and all contractual commitments have been met Transnet has reported that Kumba had reported a loss of 2.4 million tonnes due to derailments, "but that is incorrect".
Both parties are working on a turnaround plan and once it was finalized, Kumba wanted to discuss with Transnet its plans to expand into its operations in the Northern Cape, Mkhwanazi said.
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