Kumba Iron Ore cut its sales forecast by 1 million tonnes to between 36 – 38 million tonnes
- This is despite Kumba recording a 6% increase in iron ore production
- Iron ore railed to port decreased 3% to 18.4 million tonnes in the first half of 2023
- Kumba deferred R2 billion of non-critical capital expenditure due to logistics challenges
- Cable theft closed Transnet’s iron ore rail line for 7 consecutive days
- Freight transported on South African railways decreased from 230 million tonnes in 2017 to 179 million tonnes in 2022
- Over 1,600km of cables were stolen from Transnet railways in the last financial year
- Repair and replacement of stolen cables costs Transnet billions annually