Kumba lifts output, slashes costs, pumps cash, CFO quits

South Africa’s biggest iron-ore mining company Kumba Iron Ore beat production guidance, slashed costs and pumped cash – but what was a successful 12 months to December 31 last year, was marred by two fatalities. Controlling shareholder Anglo American said in a separate statement that it would report underlying Kumba earnings of $438-million for the year, which would take into account certain adjustments on Kumba’s reported headline earnings of R8.7-billion.