Kumba Iron Ore looks to consolidation and technology to keep growing
Kumba Iron Ore is considering regional consolidation, exploration and technology to grow and replace mined ore at its Sishen and Kolomela mines in the Northern Cape. Kumba, which is majority owned by Anglo American, is SA’s largest iron ore miner and exports about 44-million tonnes of ore, making it the world’s fifth-largest source of seaborne iron ore. The flagship Sishen mine, which produces about 31-million tonnes a year, has a 13-year life left. Kumba is exploring on and around its tenements in the Northern Cape for additional ore and CEO Themba Mkhwanazi said: "We are quite confident and excited about potential prospects." During a media visit to Sishen on Tuesday, Mkhwanazi declined to be drawn on what further growth prospects were outside of technological improvements to ramp up productivity, lower costs to be globally competitive, and tap into low-grade ore that has been stockpiled until a cost-effective way could be found to upgrade its quality. "What we are saying is we ar...
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