KUMBA Iron Ore has developed wide margins on the sale of its ore, despite a soft price for the steel ingredient, allowing the company to start thinking again about paying dividends and investing in growth.Kumba, a unit of Anglo American, has been put up for disposal by the diversified miner in a process that will be overseen by Kumba CEO Norman Mbazima, who leaves the iron ore miner at the end of August.Kumba grew to a net cash position of R548m in the first six months of 2016 after it restructured its flagship Sishen mine and pushed production hard at its smaller Kolomela mine, both of which are in the Northern Cape.Kumba is busy with a programme of "incremental growth" by building three modular plants at both mines for between R400m and R600m each to add 2.1-million tonnes of saleable ore by processing lower grade stockpiled material. The first was already in production and another two will be commissioned next year, Mbazima said.A dense media-separation plant that will be retrofi...
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