The average free ship wet metric ton (wmt) export price for the company's ore listed on the Johannesburg Stock Exchange was 15% higher at $136/wmt – or $138 per dry metric ton (dmt).
Kumba's export sales of 19.7 million tons, with an increase of 2% in the first half, increased by 7% in the second quarter.
A tough first quarter was the main reason why total half-year production fell 13% to 17.8 million tons.
The iron ore market also came under pressure in the second quarter due to the expanded Covid-19 lockdown in China and weakened global economic prospects as the inflationary effects of the pandemic escalated with the conflict in Ukraine.
Therefore, Kumba's average prices were well above the $118/wmt or $120/dmt reference prices.
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