According to the company’s website press release on October 10, 2022, Kumba has received a notice of force majeure from Transnet SOC Limited (“Transnet”) on 7 October 2022 due to strike action by Transnet’s unions.
We have implemented contingency plans to safeguard our assets and minimise the impact on operations. However, as a result of the disruption to Transnet’s rail and port services, the estimated impact on production is approximately 50,000 tonnes per day for the first seven days and thereafter, approximately 90,000 tonnes per day. Export sales will be impacted by approximately 120,000 tonnes per day.
Kumba will continue to monitor the situation closely and provide further updates, as appropriate. The company’s production and sales report for the third quarter of 2022 is scheduled for release on 27 October 2022.
This announcement contains forward-looking statements which are based on the Company’s current beliefs and expectations about future events. The operational and financial forecasts provided in this announcement are estimates and the financial information on which the trading statement is based, has not been reviewed and reported on by the Company's external auditors.
Production and sales volumes referred to for the period are 100% of Sishen Iron Ore Company Proprietary Limited (“SIOC”), and attributable to shareholders of Kumba as well as to the non-controlling interests in SIOC.
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Published on October 17, 2022 4:04 PM (GMT+8)Last Updated on October 17, 2022 4:09 PM (GMT+8)
