Kumba Iron Ore: South Africa’s full-year profit up 46%: Kumba iron ore is a mining company from South Africa. These days it is making the news headlines as they had been made the 46 percent, this is their ‘fu9ll year net profit. The company had been reposted with the 46 percent annual profit on Tuesday. Supported by higher iron ore prices and cost-cutting measures implemented by the company. The headline of the company is earnings per share (HEPS) – the main profit is measured for the companies of South Africa was 103.65 rand ($6.83) for the year ended Dec. 31, compared with 71.07 rands in 2020. The company also declares as the world’s top five iron ore producers, they also unveiled their dividend of 30.50 rands per share, taking the full-year dividend to 103.20 rands per share. Follow More Update On GetIndiaNews.com
Kumba Iron Ore
($1 = 15.1829 rand)
(Reporting by Nelson Banya Editing by Promit Mukherjee)
The chief executive of the Kumba iron ore has given a statement that last year it was exceptional of delivering the business. Zikalala is the former De Beers Consolidated Mines CEO and was appointed Kumba CEO in October.
She also stated that “even after the weather and logistical challenges the company had been still able to increase a production by 9 percent to 40.9 million tonnes as it is the improved performance at the Saldanha port lifting export sales by 1 percent to 40.2Mt.”
Zikalala said, “our products are high quality and these are combined with the strong prices and resilience resulted in record earnings before interest, tax, depreciation, and amortization (Ebitda) of R64.6 billion.”
The headquarters of the company said that the strong and the financial performance was taken far by the robust pricing for the company, and it also recorded or cover the second-highest average level of $160 (R2 429) per ton for the year − reaching $220 per ton at one point before slamming to $80 per ton later in the year.
The average export price of Kumba on board is almost (FOB) $161 per ton, 18 percent above the benchmark. If we talk about the last year of the stock then it came to 6.1Mt.
The company has given a statement that reads, “some essential and necessary highlights of the year are the extensions of Sishen’s life of mine by four years to 2039 through our ultra-high-dense media-separation technology, contacting deals with, and the relocation of the remaining homeowners of, Dingleton to Siyathemba.”