Buoyed by iron prices, Kumba Iron Ore posts record results

A major continental player in the production of iron (40 million tonnes in 2019), the South African mining company Kumba Iron Ore - a subsidiary of Anglo American - published on Tuesday solid annual results with a turnover and a profit up by 41% (to 64.3 billion rand, or 4.28 billion dollars) and 77% (28.81 billion rand, or 1.92 billion dollars) respectively. This strong performance was primarily attributed by the group’s management to the good performance of iron prices.