Kumba Iron Ore warned on Thursday that 2022 profit could have slumped by as much as 44% due to weaker iron ore prices and rail logistics problems in South Africa.
Haul trucks are seen at Kumba Iron Ore, the world's largest iron ore mines in Khathu, Northern Cape province, South Africa, File. REUTERS/Siphiwe Sibeko/File Photowarned on Thursday that 2022 profit could have slumped by as much as 44% due to weaker iron ore prices and rail logistics problems in South Africa.
The Anglo American unit, which exports iron ore mainly to China, Japan, South Korea, Europe and the Middle East, produced 37.7 million tonnes of the key steel ingredient in 2022, down from 40.9 million tonnes the previous year.
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