Kumba iron-ore costs soar but profits and margins rise

摘要

HIGHER iron-ore prices have boosted profits and margins for Kumba iron Ore Ltd, an Anglo American plc subsidiary, however the company did have to cope with soaring costs in the six months to end-June. Increased tonnages mined, coupled with lower production and inflationary pressures, resulted in a unit cash cost increase of 18% to R131.01/t or 43% in dollar terms to 19.04 US dollars/t from a year earlier.