Kumba Iron Ore to Restructure Sishen, Cut Production 28% in 2016By
Owner of Africa's biggest iron-ore mine combats falling prices
New plan targets costs of $30 a ton, iron ore at $39.06 a ton
Kumba Iron Ore Ltd., majority owned by Anglo American Plc, said it will restructure Africa’s biggest mine for the steelmaking ingredient, cutting output there by 28 percent to combat the plunging price of the raw material. The stock fell to the lowest on record.
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