Wrap Text
Kumba production and sales report for the first quarter ended 31 March 2026
Kumba Iron Ore Limited
A member of the Anglo American plc group
(Incorporated in the Republic of South Africa)
(Registration number 2005/015852/06)
Share code: KIO
ISIN: ZAE000085346
("Kumba" or "the Company")
Kumba production and sales report for the first quarter ended 31 March 2026
Kumba's Chief Executive, Mpumi Zikalala, said: "Safety is our first value, and we made excellent progress in the first quarter.
Production was marginally lower as we managed our mine stockpiles to accommodate Transnet's planned logistics
maintenance shutdown in May. Increased sales volumes were supported by improved finished stock levels and equipment
availability at Saldanha Bay Port.
"In terms of our strategic priorities, as we position for a sustainable future, construction of Sishen's Ultra High Dense Media
Separation project continues, with preparations underway for the main plant tie-in scheduled for the second half of 2026.
Notably, Kolomela received its first wheeled renewable electricity from Envusa Energy, a joint venture between Anglo
American plc and EDF Renewables, achieving a 72% reduction in scope 2 carbon emissions in March.
"More broadly, Kumba's export sales routes to our markets in Asia and Europe remain open and have not been impacted
by shipping disruptions caused by the conflict in the Middle East. Our supply chains have been secured for the remainder
of this year, and we continue to closely monitor developments and manage potential associated risks, including cost
inflation. Against this backdrop, we have maintained our full year 2026 guidance while staying focused on financial discipline
and delivering sustainable stakeholder value."
Q1 2026 overview:
• Improved safety performance, while maintaining Sishen and Kolomela's fatality-free production record of nine years and
more than three years, respectively.
• Total production of 8.8 Mt (Q1 2025: 9.0 Mt) was 2% lower, driven by Kolomela and partially offset by increased production
at Sishen.
• Total sales increased by 3% to 9.3 Mt (Q1 2025: 9.0 Mt) on the back of improved logistics performance.
• Finished stock of 7.2 Mt (31 December 2025: 7.5 Mt) was comprised of 4.7 Mt (31 December 2025: 5.7 Mt) at the mines
and 2.5 Mt at Saldanha Bay Port (31 December 2025: 1.8 Mt).
• Kumba achieved an average realised free on board (FOB) export iron ore price of US$93 per wet metric tonne (wmt) (Q1
2025: US$98/wmt), 8% above the Fastmarkets 62% Fe FOB equivalent price of US$86/wmt
(Q1 2025: US$88/wmt).
% change % change
Q1 Q4 Q3 Q2 Q1 vs vs
000 tonnes 2026 2025 2025 2025 2025 Q1 2025 Q4 2025
Waste mining 39,158 41,088 44,175 39,817 40,485 (3) (5)
Production 8,842 8,590 9,247 9,257 8,990 (2) 3
Sales 9,311 8,705 9,625 9,701 9,007 3 7
Total waste mining 39,158 41,088 44,175 39,817 40,485 (3) (5)
Sishen 30,642 32,520 36,744 33,341 34,631 (12) (6)
Kolomela 8,516 8,568 7,431 6,476 5,854 45 (1)
Total production 8,842 8,590 9,247 9,257 8,990 (2) 3
Sishen 6,257 6,560 6,347 6,427 5,955 5 (5)
Kolomela 2,585 2,030 2,900 2,830 3,035 (15) 27
Total sales 9,311 8,705 9,625 9,701 9,007 3 7
Lump 6,154 5,917 6,391 6,418 6,127 — 4
Fines 3,157 2,788 3,234 3,283 2,880 10 13
Safety
Kumba's TRIFR improved to 0.49 (Q1 2025: 0.92) despite an 11% increase in hours worked, reflecting the meaningful
progress made in strengthening our safety culture. This was driven by improved fatal risk management practices and
reporting capability, leading to sustained increases in contractor utilisation.
Mining and production
Total waste mining decreased by 3% to 39.2 Mt (Q1 2025: 40.5 Mt), reflecting lower waste mining at Sishen. The decrease
of 12% to 30.6 Mt (Q1 2025: 34.6 Mt) at Sishen was largely due to seasonal weather disruptions resulting in challenging
mining conditions and low shovel reliability. Kolomela's waste mining increased by 45% to 8.5 Mt (Q1 2025: 5.9 Mt), in line
with the planned ramp-up in waste mining and the higher strip ratio guided for 2026.
Kumba's total production decreased by 2% to 8.8 Mt (Q1 2025: 9.0 Mt), largely driven by a 15% decrease at Kolomela to 2.6
Mt (Q1 2025: 3.0 Mt), due to a planned drawdown of finished stock to accommodate production that will continue during
the scheduled 10-day Transnet maintenance shutdown in May. Sishen's production increased by 5% to 6.3 Mt (Q1 2025: 6.0
Mt), driven by improved feedstock quality and plant performance.
Logistics, sales and marketing
Ore railed to port by Transnet decreased by 1% to 9.7 Mt (Q1 2025: 9.8 Mt) as adverse weather conditions led to a rail wash-
away in February, impacting 0.4 Mt of iron ore rail volumes. Despite this, high port stock volumes and improved port
equipment performance resulted in sales increasing by 3% to 9.3 Mt (Q1 2025: 9.0 Mt).
Following the drawdown of mine stockpiles at Kolomela and increased sales, total finished stock decreased to 7.2 Mt (31
December 2025: 7.5Mt). Stock at our mines was 4.7 Mt (31 December 2025: 5.7 Mt) with stock at Saldanha Bay Port at 2.5
Mt (31 December 2025: 1.8 Mt), which include shipments in-transit.
Iron ore market fundamentals remained supported by demand from China, Other Asia and Europe and supply was
constrained by seasonal weather disruptions in the southern hemisphere towards the end of Q1. Iron ore prices and lump
premium, which were initially under pressure due to weak steel mill margins in China, recovered in March on restocking
and increased blast furnace utilisation rates.
Kumba's iron (Fe) content averaged 63.7% (Q1 2025: 64.2%), with an average lump to fine ratio of 66:34 (Q1 2025: 68:32),
as fewer lump products were sold during the period of softer lump premium. This, combined with the iron ore market
price dynamics in Q1, resulted in Kumba achieving an average realised FOB export price of US$93/wmt, 8% above the
Fastmarkets 62% Fe FOB equivalent price of US$86/wmt.
Full year 2026 guidance update
Subject to Transnet's logistics availability and performance, Kumba's full year 2026 guidance (announced at the Company's
annual results presentation on 19 February 2026) is unchanged. Sishen's production will be weighted to the first half of
2026, due to the tie-in of the UHDMS project in the second half of 2026, with sales not expected to be impacted owing to
the planned drawdown of finished stock.
Guidance FY2026
Total sales (Mt) 35 - 37
Total production (Mt) 31 - 33
Sishen ~22
Kolomela ~10
Waste stripping (Mt) 180 - 195
Sishen 135 - 145
Kolomela 45 - 50
On-mine unit cost (R/t)
Sishen 530 - 560
Kolomela 430 - 460
C1 unit costs ($/t) ~45
Capital expenditure (Rbn) 13.2 - 14.2
Volumes, excluding waste mining, and on-mine unit costs, are reported as wet metric tonnes (wmt). Product is shipped with
~1.5% moisture. The Group's sales volumes could differ to Kumba's results, due to sales to other Group companies. Foreign
exchange rate used for 2026 costs is ~R16.00/US$.
Production and sales volumes for the period are 100% of Sishen Iron Ore Company Proprietary Limited (SIOC), and are
attributable to shareholders of Kumba as well as the non-controlling interests in SIOC.
This announcement contains forward-looking statements which are based on the Company's current assessment and
expectations about future events, including the effects of the conflict in the Middle East. The operational and financial
information contained in this announcement has not been reviewed and reported on by the Company's external auditors
and is the responsibility of the board of directors of Kumba.
Johannesburg
28 April 2026
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
For further information, please contact:
Company Secretary
Fazila Patel
fazila.patel@angloamerican.com
Tel: +27 12 683 7060
Mobile: +27 83 297 2293
Investors Media
Penny Himlok Melangini Pillay
penny.himlok@angloamerican.com melanini.pillay@angloamerican.com
Mobile: +27 82 781 1888 Mobile: +27 76 959 2019
Notes to editors:
Kumba Iron Ore Limited, a member of the Anglo American plc group, is a leading value-adding supplier of high quality iron
ore to the global steel industry. Kumba produces iron ore in South Africa at Sishen and Kolomela mines in the Northern Cape
Province. Kumba exports iron ore to customers around the globe including in China, Japan, South Korea and a number of
countries in Europe and in the Middle East and North Africa region.
Anglo American is a leading global mining company focused on the responsible production of copper, premium iron ore and
crop nutrients – future-enabling products that are essential for decarbonising the global economy, improving living
standards, and food security. Our portfolio of world-class operations and outstanding resource endowments offers value-
accretive growth potential across all three businesses, positioning us to deliver into structurally attractive major demand
growth trends.
Our integrated approach to sustainability and innovation drives our decision-making across the value chain, from how we
discover new resources to how we mine, process, move and market our products to our customers – safely, efficiently and
responsibly. Our Sustainable Mining Plan commits us to a series of stretching goals over different time horizons to ensure
we contribute to a healthy environment, create thriving communities and build trust as a corporate leader. We work
together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for
our shareholders, for the benefit of the communities and countries in which we operate, and for society as a whole. Anglo
American is re-imagining mining to improve people's lives.
Anglo American is currently implementing a number of major structural changes to unlock the inherent value in its
portfolio and thereby accelerate delivery of its strategic priorities of Operational excellence, Portfolio simplification, and
Growth. The sale of our steelmaking coal and nickel businesses, the separation of our iconic diamond business (De Beers)
continue to progress and, once completed, will focus Anglo American on its world-class resource asset base in copper,
premium iron ore and crop nutrients.
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Forward looking statements
This document includes forward-looking statements. All statements other than statements of historical fact included in this
document may be forward-looking statements, including, without limitation, those regarding Kumba's financial position,
business, acquisition and divestment strategy, dividend policy, plans and objectives of management for future operations,
prospects and projects (including development plans and objectives relating to Kumba's products, production forecasts and
Ore Reserve and Mineral Resource positions), the anticipated benefits of mergers and acquisitions (including any
assessment or quantification of potential synergies) and sustainability performance related (including environmental, social
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"should", "will", "target" and words of similar meaning. By their nature, such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of
Kumba's or industry results to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Kumba's present and future business
strategies and the environment in which Kumba will operate in the future. Important factors that could cause Kumba's actual
results, performance or achievements to differ materially from those in the forward-looking statements include, among
others, levels of actual production during any period, levels of global demand and product prices, unanticipated downturns
in business relationships with customers or their purchases from Kumba, mineral resource exploration and project
development capabilities and delivery, recovery rates and other operational capabilities, safety, health or environmental
incidents, the ability to identify, consummate and integrate pending or potential acquisitions, disposals, investments,
mergers, demergers, syndications, joint ventures or other transactions, the effects of global pandemics and outbreaks of
infectious diseases, the impact of attacks from third parties on our information systems, natural catastrophes or adverse
geological conditions, climate change and extreme weather events, the outcome of litigation or regulatory proceedings, the
availability of mining and processing equipment, the ability to obtain key inputs in a timely manner, the ability to produce
and transport products profitably, the availability of necessary infrastructure (including transportation) services, the
development, efficacy and adoption of new or competing technology, challenges in realising resource estimates or
discovering new economic mineralisation, the impact of foreign currency exchange rates on market prices and operating
costs, the availability of sufficient credit, liquidity and counterparty risks, the effects of inflation, terrorism, war, conflict,
political or civil unrest, uncertainty, tensions and disputes and economic and financial conditions around the world, evolving
societal and stakeholder requirements and expectations, shortages of skilled employees, unexpected difficulties relating to
acquisitions or divestitures, competitive pressures and the actions of competitors, activities by courts, regulators and
governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of operations or
maintenance of Kumba's assets and changes in taxation or safety, health, environmental or other types of regulation in the
countries where Kumba operates, conflicts over land and resource ownership rights and such other risk factors identified in
Kumba's most recent Annual Report. Forward-looking statements should therefore be construed in light of such risk factors,
and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as
of the date of this document. Kumba expressly disclaims any obligation or undertaking (except as required by applicable
law, rules or regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to
reflect any change in Kumba's expectations with regard thereto or any change in events, conditions or circumstances on
which any such statement is based.
Nothing in this document should be interpreted to mean that future earnings per share of Kumba will necessarily match or
exceed its historical published earnings per share. Certain statistical and other information included in this document is
sourced from third party sources (including, but not limited to, externally conducted studies and trials). As such it has not
been independently verified and presents the views of those third parties, but may not necessarily correspond to the views
held by Kumba and Kumba expressly disclaims any responsibility for, or liability in respect of, such information.
No Investment Advice
This document has been prepared without reference to your particular investment objectives, financial situation, taxation
position and particular needs. It is important that you view this document in its entirety. If you are in any doubt in relation
to these matters, you should consult your stockbroker, bank manager, solicitor, accountant, taxation adviser or other
independent financial adviser (where applicable, as authorised under the Financial Services and Markets Act 2000 in the
UK, or in South Africa, under the Financial Advisory and Intermediary Services Act 37 of 2002 or under any other applicable
legislation).
Alternative Performance Measures
Throughout this document a range of financial and non-financial measures are used to assess our performance, including a
number of financial measures that are not defined or specified under IFRS (International Financial Reporting Standards),
which are termed 'Alternative Performance Measures' (APMs). Management uses these measures to monitor the
Company's financial performance alongside IFRS measures to improve the comparability of information between reporting
periods and businesses. These APMs should be considered in addition to, and not as a substitute for, or as superior to,
measures of financial performance, financial position or cash flows reported in accordance with IFRS. APMs are not
uniformly defined by all companies, including those in the Company's industry. Accordingly, it may not be comparable with
similarly titled measures and disclosures by other companies.
©Kumba Iron Ore Limited 2026. ™ and ™ are trade marks of Kumba Iron Ore Limited.
©Anglo American Services (UK) Ltd 2026. ™ and ™ are trade marks of Anglo American Services (UK) Ltd.
Date: 28-04-2026 08:00:00
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