Anglo American PLC (LSE:AAL) has noted the announcement by Kumba Iron Ore Limited detailing a notice of force majeure it received from Transnet SOC Limited on 7 October 2022 due to strike action by Transnet's unions.
As a result of the disruption to Transnet's rail and port services, the estimated curtailment to production is approximately 50,000 tonnes per day for the first seven days, and thereafter approximately 90,000 tonnes per day.
Export sales will be reduced by approximately 120,000 tonnes per day.
Kumba’s production and sales report for the third quarter of 2022 is scheduled for release on 27 October 2022.
Separately, Anglo American also announced a boardroom shuffle at De Beers, the global diamond behemoth that it controls. Al Cook will become chief executive and Bruce Cleaver, the current chief executive, will become co-chairman, with effect from early 2023.