18-02-2025
Anglo's Kumba wants private investors to run key iron ore rail line
Companies
JOHANNESBURG, Feb 18 (Reuters) - Anglo American's (AAL.L), opens new tab South African iron ore unit said it wants private investors to run a key rail line from its mines to ports as it continues to struggle to move the steelmaking ingredient to export markets, CEO Mpumi Zikalala said.
Kumba Iron Ore (KIOJ.J), opens new tab said on Tuesday its headline earnings per share slumped 45% to 38.94 rand ($2.11) last year amid lower prices and rising iron ore stockpiles at its mines due to lack of rail capacity.
Key to the shipments is an 861 km (535 mile) rail line, owned and operated by struggling state-owned Transnet, that runs from its giant Sishen mine in South Africa's Northern Cape province to Saldanha port.
($1 = 18.4407 rand)
