Sector: Basic Materials
The company is available at Interactive Brokers
Kumba Iron (JSE:KIO) produces a high-grade iron ore that is one of the minerals that society needs to develop and prosper. Iron ore is the key component in steel, the most widely used of all metals. It is used in the construction of buildings and bridges, and manufacturing of vehicles and many household appliances.
The company's production process consists of: exploration; planning and building; mining; processing and blending; shipping; marketing and selling.
Exploration
The company's exploration in South Africa is focused in the Northern Cape, close to its existing operations. On and near-mine exploration and resource definition drilling is conducted to increase confidence in the geological models; these are updated annually in support of life of mine and long-term planning.
Planning and building
The company's geologists and engineers design its mines using virtual mine planning systems. Kumba Iron builds mines that are effective, cost-efficient and environmentally sound – mines that minimise the company's environmental footprint while safeguarding its cash resources.
Mining
The company extracts iron ore by mining the iron ore bodies within its mining leases using open pit methods. Kumba Iron is implementing a technology roadmap that aims to accelerate the adoption of technology to improve safety, quality, efficiency and resource utilisation.
Beneficiation
The company uses dense-media and ultrahigh density media processing and jigging technologies to regulate the physical properties of the finished product, removing impurities and improving product quality. It also supports the South African government’s objectives to maximise the developmental impact of the minerals sector.
Processing and blending
Blending allows Kumba Iron to utilise products from its operations to provide niche specification products to its markets. Products are screened and sized to match customer requirements, and then transported through its outbound logistics chain.
Shipping, marketing and selling
The group sells iron ore domestically and internationally. Export customers are in a range of geographical locations around the globe, including China, Japan, India, South Korea and countries in Europe and MENA. Domestically, Kumba Iron sells ore to ArcelorMittal SA.
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Potential dynamics
South Africa is turning to drones and helicopters to fight cable theft that’s disrupting a key export line.
2023-07-25 11:27 +02:00
Keabetswe Modimoeng, the former chairman of Icasa, has joined pay-television broadcaster MultiChoice in a senior role.
2023-01-10 15:38 +02:00JOHANNESBURG (Reuters) -Anglo American said it is cutting corporate office jobs across several countries, as unions said its South African iron ore business plans to lay off scores of workers at its head office.
2023-10-04South Africa`s mining output has fallen further below pre-pandemic levels due to persistent electricity outages and rail disruptions, industry data shows, threatening dividend payouts to investors.
2023-08-07(Reuters) -Anglo American`s South African iron ore unit said collaboration between private investors and government could help resolve mounting rail bottlenecks which are forcing it to stockpile more iron ore at its mines.
2023-07-25Anglo American`s CEO on Monday called for a public-private partnership to improve performance at South Africa`s state-owned rail and port firm Transnet, whose failure to meet demand has hampered miners` ability to export their products.
2023-02-06South Africa`s Kumba Iron Ore`s production and exports will be hampered by a strike at state-owned logistics company Transnet, the miner said on Monday.
2022-10-10
* Kumba`s half-year profit down 50% (Recasts with company executive)
2022-07-26HARARE (Reuters) -South Africa`s Kumba Iron Ore said on Tuesday it will focus on making its operations more efficient and containing costs to fight inflation, after a 46% profit rise in 2021.
2022-02-22JOHANNESBURG (Reuters) -South African miner Kumba Iron Ore reported a nearly three-fold increase in interim earnings on Tuesday and hiked its dividend payout, as higher iron ore prices and increased production boosted profit.
2021-07-27Exxaro Resources Ltd`s Chief Executive Officer Mxolisi Mgojo will retire in May 2023 and be succeeded by managing director of minerals Nombasa Tsengwa, the South African mining company said on Thursday.
2021-03-18
South Africa`s state-owned Industrial Development Corporation (IDC) said it would diversify its equity investments after reporting on Monday a sharp decline in the value of its top three holdings in listed companies.
2020-10-26
South Africa`s Anglo American Platinum (Amplats) aims to save about 4 billion rand ($211 million) this year through cost cuts and reduced capital expenditure to offset production losses during a nationwide lockdown to fight the coronavirus.
2020-04-23
South Africa`s logistics firm Transnet said it would reduce transport services and non-essential cargo operations during a nationwide lockdown that began at midnight on Thursday to contain the coronavirus.
2020-03-27
South Africa`s Kumba Iron Ore on Tuesday posted a rise in annual earnings, underpinned by higher iron ore prices and currency gains from a weaker rand exchange rate to the dollar.
2020-02-18
Mines across South Africa shut down on Tuesday after flash flooding triggered the most severe power blackouts in more than a decade, threatening a key export sector in a further blow to the country`s already slowing economy.
2019-12-10JSE:AGL JSE:AMS JSE:S32 JSE:KIO JSE:GFI JSE:IMP JSE:ANG JSE:AVI JSE:MPT
South African miner Exxaro Resources on Thursday reported a 42% rise in half-year headline profit as income from equity investments offset lower core earnings.
2019-08-22
* Favourable exchange rate also lifted earnings (Adds detail, share price, and trader comment)
2019-07-23
South Africa`s Kumba Iron Ore Ltd said on Tuesday first-half headline earnings is expected to rise at least 160 percent, boosted by higher iron ore export prices and a weaker rand/U.S. dollar exchange rate.
2019-05-14
South Africa`s rand recovered on Friday, tracking peers like the Turkish lira and Russian rouble as the dollar weakened and investors looked to profit on the greenback`s recent rally.
2019-02-08Production
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