Kumba Iron Ore to Restructure Sishen, Cut Production 28% in 2016

  • 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.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.