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Kumba profit up 12% in 'royal flush' year – CEO

By: Megan van Wyngaardt     13th February 2018 In a year that CEO Themba Mkhwanazi describes as a "royal flush", Kumba Iron Ore posted a 12% increase in headline earnings to R9.7-billion. Headline earnings reached R30.47 a share, while earnings before interest, taxes, depreciation and amortisation increased by 6% year-on-year to R19.6-billion... 

Kumba FY17 profit rises 12%

By: Reuters     13th February 2018 South Africa's Kumba Iron Ore reported a 12% rise in annual profit on Tuesday, underpinned by higher costs for the steel-making ingredient. The company, a unit of Anglo American, said headline earnings came in at R9.7-billion ($813.36-million), or R30.47 a share, in the year ended December 2017,... 

Kumba expects FY17 earnings to soar as production improves

By: Megan van Wyngaardt     9th February 2018 Kumba Iron Ore's headline earnings for the year ended December 31 are likely to increase by 7% to 15% year-on-year to between R9.3-billion and R9.98-billion and its headline earnings per share (HEPS) to between R29.13 and R31.27. "The increase in headline earnings is largely attributable to... 

Anglo American delivers increased output of most products in 2017

By: Natasha Odendaal     25th January 2018 Despite removing higher-cost platinum and metallurgical coal volumes, LSE- and JSE-listed Anglo American has reported a 5% rise in total production on a copper equivalent basis in 2017. “We have delivered another strong operating performance in 2017. The 5% increase for the full year reflects our... 

Kumba’s FY17 iron-ore output up 8% y/y 

By: Creamer Media Reporter      25th January 2018 Kumba Iron Ore produced 44.98-million tonnes of iron-ore in 2017, exceeding guidance. Production was also 8% higher than the 41.48-million tonnes produced in 2016. 

Forecast price drop influenced by Chinese economic refocusing

By: Megan van Wyngaardt     8th December 2017 Maintaining its iron-ore price forecast at an average of $70/t for the year and $50/t for 2018, research firm BMI says its predicted price drop is influenced by China’s economic refocusing away from heavy industry. “This will dampen demand for iron-ore,” the firm says, adding that, when combined... 

Kumba’s September-quarter iron-ore output 2% down year-on-year

By: Mia Breytenbach     3rd November 2017 Anglo American subsidiary Kumba Iron Ore’s production decreased by 2% year-on-year to 11.5-million tonnes for the quarter ended September 30. This was owing to a 7% decrease in the Sishen mine’s production to 7.8-million tonnes, compared with 8.3-million tonnes in the third quarter of 2016. 

Matodzi Nesongozwi

By: Ilan Solomons     3rd November 2017 This week Mining Weekly features Matodzi Nesongozwi, CEO of Manngwe Mining, a black-led iron-ore mining company   

Kumba Q3 output down 2% y/y; FY guidance raised

By: Mia Breytenbach     24th October 2017 Anglo American subsidiary Kumba Iron Ore’s production decreased by 2% year-on-year to 11.5-million tonnes for the quarter ended September 30. This was owing to a 7% decrease in the Sishen mine’s production to 7.8-million tonnes, compared with 8.3-million tonnes in the third quarter of 2016. 

Mining's biggest mystery is what Agarwal plans to do with Anglo

By: Bloomberg     21st September 2017 As Anglo American’s board met at the lavish Vergelegen wine estate in South Africa yesterday evening as part of a 100-year celebration, executives were blindsided by news headlines: Indian mining tycoon Anil Agarwal was becoming the biggest shareholder. After Anglo’s managers partied to honor the... 

Wescoal appoints new CFO

By: Creamer Media Reporter      7th August 2017 JSE-listed Wescoal has appointed Izak Van der Walt CFO and executive director effective September 1. He succeeds Bothwell Mazarura, who will step down as CFO and executive director on August 31, to pursue a role as FD at Kumba Iron Ore. 

Virtual reality experience aids mine design analysis

By: Nadine James     4th August 2017 Virtual reality (VR) provides an immersive experience which makes it easier for project managers to make decisions on and improve project designs, and to undertake other activities that ensure the effective implementation of their strategies, believes the University of Pretoria's (UP’s)... 

Mining needs to be put back on an even keel as fast as possible

By: Martin Creamer     4th August 2017 Very telling were the comments of Deputy Minerals Minister Godfrey Oliphant during last week’s radio interview with 702 morning host Xolani Gwala. During the interview, the experienced Deputy Minister made no bones about his discomfort at not being consulted on Mineral Resources Minister... 

Resources Watch  

     3rd August 2017 Kumba CEO concerned by Minister’s reneging; Sishen productivity leaps by 57%; And, Eskom tariffs in AMSA’s action plan crosshairs as losses spike 

More cost cutting as local steel demand still dim

     28th July 2017 To mitigate some of the negative impact of a worse-than-expected performance in the first quarter of the year, South Africa’s largest steel producer ArcelorMittal South Africa (AMSA) is implementing further cost cutting and efficiency measures. This will also include a review of the long steel... 

Mines continue to drive sustainable value creation

By: Simone Liedtke     28th July 2017 The African mining industry is increasingly focusing on generating as much value as possible from mining projects to benefit all mining stakeholders and strengthen its position as a sustainable contributor to the continent’s economies, says consulting engineer Aurecon resources client director... 

Seriti coal deal edging forward positively – Anglo

By: Martin Creamer     27th July 2017 The sale by Anglo American of its Eskom-tied coal mines to the black-owned Seriti start-up is edging forward positively, new Anglo American new financial director Stephen Pearce said on Thursday. Anglo has signed a binding sale and purchase agreement with Seriti in a transaction that has been... 

Rio Tinto’s RBM appoints new MD

     27th July 2017 Billy Mawasha has been appointed MD of South African mineral sands producer Richard Bay Minerals (RBM), in which Rio Tinto holds a 74% stake. He joins RBM from Kumba Iron Ore where he was executive head of operations and integration.   Billy has extensive leadership experience across a number of... 

Deputy Minister ‘uncomfortable’ at not being consulted

By: Martin Creamer     26th July 2017 Deputy Mineral Resources Minister Godfrey Oliphant told Radio 702 morning anchor Xolani Gwala on Wednesday that he was “uncomfortable” at having to read about the proposed mineral rights moratorium in the newspapers. Oliphant, who has served as the deputy to three Mineral Resources Ministers,... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging  

By: Martin Creamer     25th July 2017 Kumba Iron Ore CEO Themba Mkhwanazi on Tuesday expressed concern about the mineral rights and mining transaction moratorium that has been gazetted by Mineral Resources Minister Mosebenzi Zwane, especially because it followed his agreement to suspend the implementation of Mining Charter Three... 

Mandla Gantsho to replace Fani Titi as Kumba chair

By: Martin Creamer     25th July 2017 Kumba Iron Ore chairperson Fani Titi is to step down from the board of the Johannesburg Stock Exchange-listed mining company from September 30 and will be replaced by Dr Mandla Gantsho, who has been appointed as chairperson designate. Gantsho will join the board on August 1 and will succeed Titi... 

Kumba lifts iron-ore output 23%, reinstates dividend, shares rise

By: Martin Creamer     25th July 2017 Iron-ore mining company Kumba Iron Ore on Tuesday reported a 23% increase in production in the six months to June 30 on the back of a productivity step change linked to the revised Sishen mine plan. The Anglo American subsidiary achieved a fatality-free half year and reduced lost-time injuries in... 

Kumba raises Sishen FY production guidance

By: Creamer Media Reporter      20th July 2017 Kumba Iron Ore has raised the full-year production guidance for its Sishen mine, in the Northern Cape, to 28-million to 29-million tonnes, owing to the solid and consistent performance and ongoing improvements at the mine. The mine produced 7.9-million tonnes of iron-ore in the second quarter of... 

Diamond output leap helps Anglo

By: Martin Creamer     20th July 2017 A sharp rise in rough diamond production at a time of stable diamond trading conditions has boosted diversified mining company Anglo American in the three months to June 30, when overall production was 8% up on a copper-equivalent basis. Rough diamond production increased by 36% to 8.7 million... 

Kumba expects 20% headline earnings increase

By: Anine Kilian     14th July 2017 JSE-listed Kumba Iron Ore expects its headline earnings per share (HEPS) and basic earnings per share (EPS) for the period ended June 30 to be at least 20% higher than the comparative period. Headline earnings for the period are likely to be between R4.37-million and R4.74-million, with basic... 

Wescoal’s Mazarura appointed Kumba CFO

By: Natasha Odendaal     6th July 2017 Wescoal CFO and executive director Bothwell Mazarura has resigned to join Kumba Iron Ore as CFO and executive director, effective September 1. Mazarura, who has worked at Wescoal since July 2016, holds a Bachelor of Accounting Science Degree from the University of South Africa and is an... 

Kumba aiming to achieve ‘whole new way of mining’ through new initiative

By: Dylan Slater     2nd June 2017 Anglo American’s Kumba Iron Ore business is embarking on modernisation using its FutureSmart Mining programme, which is aimed at bringing its overall mining business in line with new innovations and technology to mine safer and more efficiently.  

Kumba boss calls for end to mining industry’s current operating model

By: Dylan Slater     26th May 2017 Themba Mkhwanazi, CEO of diversified miner Anglo American’s Kumba Iron Ore sibsidiary, believes that a paradigm shift is needed to upend the current mining industry’s reliance on a generalised operating model that is rapidly becoming outdated and will ultimately lead to the demise of the ind 

CompCom approves AMSA’s buyout of Thabazimbi mine

By: Megan van Wyngaardt     25th May 2017 The Competition Commission has recommended the Competition Tribunal approve ArcelorMittal South Africa’s (AMSA’s) proposed acquisition of the Thabazimbi mine, in Limpopo. Kumba Iron Ore in February agreed to transfer the mine to AMSA. Until 2014, the mine was a captive mine owned and run by Kumba... 

NUM to begin wage negotiations with Kumba Iron Ore

By: African News Agency      24th May 2017 The National Union of Mineworkers (NUM) said on Tuesday, it will this week start wage negotiations with Kumba Iron Ore as the three-year agreement comes to an end on June 30. The NUM said it will table the demands of its members in Kumba Iron Ore operations in the Northern Cape, in Kolomela and... 

South Africa’s newest iron-ore mine comes on stream

By: Ilan Solomons     12th May 2017 Junior iron-ore miner Manngwe Mining plans to expand its asset base and increase production at its existing operation over the next five years to provide integrated steel and mining company ArcelorMittal South Africa (AMSA) with between four-million and five-million tons of iron-ore a year.... 

Export iron-ore prices boost Kumba’s interim earnings

By: Megan van Wyngaardt     11th May 2017 Kumba Iron Ore expects its headline earnings and basic earnings for the six months to June 30, to be at least R602-million, or 20%, higher than the R3-billion it reported for the six months to June 30, 2016. The company said in a statement on Thursday that the higher earnings were as a result of... 

Junior iron-ore miner outlines ambitious aims, supports local steel production

By: Ilan Solomons     26th April 2017 Junior iron-ore miner Manngwe Mining plans to expand its asset base and increase production at its existing operation over the next five years to provide integrated steel and mining company ArcelorMittal South Africa (AMSA) with between four-million and five-million tons of iron-ore a year.... 

Mining company to begin mediation talks with Northern Cape community

By: News24Wire      25th April 2017 Kumba Iron Ore representatives are expected to enter into mediation talks with the Dingleton community this week in a bid to resolve a dispute over land in the area. Kumba wants to relocate the entire town of Dingleton in the Northern Cape to a town 25 km away, GroundUp reported. 

Anglo American achieves strong Q1 operational performance

By: Megan van Wyngaardt     24th April 2017 Diversified major Anglo American, led by CEO Mark Cutifani, posted a strong operational performance in the quarter ended March 31, with higher output achieved for most of its products, except copper and nickel. South African coal production increased 9% to five-million tonnes in the first quarter... 

Improved mine productivity drives Sishen's Q1 production up 31%

By: Anine Kilian     24th April 2017 Improved mining productivity contributed to a 31% year-on-year increase in the Sishen mine’s output for the quarter ended March 31, to 7.7-million tonnes. “Production, however, decreased 10% [year-on-year] as the fourth quarter of 2016 benefitted from greater access to low strip ratio ore. Waste... 

Unions back Seriti's purchase of Anglo coal mines

By: Martin Creamer     11th April 2017 Two labour unions on Tuesday publicly backed the sale by Anglo American of coal assets to Seriti, the new black-owned start-up with aspirations to be South Africa’s next mining champion. Both the National Union of Mineworkers (NUM) and the Solidarity union put out statements welcoming the... 

R2.3bn Anglo coal sale to Seriti may hit Eskom ownership snag 

By: Martin Creamer     10th April 2017 A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity... 

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