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AMSA adds R4.5bn rights issue to survival plan, as it warns of earnings ‘bloodbath’ 

By: Terence Creamer     6th November 2015 JSE-listed steel producer ArcelorMittal South Africa (AMSA) announced a whopping R4.5-billion rights issue on Friday as part of a multipronged survival package, which hinges materially on greater protection for the embattled domestic steel industry. The offer will be fully underwritten by the... 

Scaw may retrench workers as it considers restructuring 

By: Natalie Greve     5th August 2015 Steel product manufacturer Scaw Metals Group announced on Wednesday that the company was contemplating restructuring and had issued a notice in terms of Section 189A of the Labour Relations Act, which could result in a reduction in employee numbers. "This unfortunate decision has been... 

Low iron-ore price killing jobs at Kumba 

By: Martin Creamer     21st July 2015 South African iron-ore major Kumba Iron Ore has taken the knife to 1 772 jobs as low iron-ore prices cut a swathe through the industry. Out of a previous complement of 572, only 221 permanent and fixed-term employees remained at head office, with the 351 head office jobs cut by the Anglo American... 

Kumba Iron Ore earnings plunge, dividend dumped, mines rejigged

By: Martin Creamer     21st July 2015 The earnings of South African iron-ore major Kumba plummeted in the six months to June 30 accompanied by a shattering of the iron-ore price, the closing of Thabazimbi mine, a rejigging of the remaining mines and a decision not to declare an interim dividend in a company that has been a... 

Kumba starts Thabazimbi closure procedures, 1 200 jobs on the line

By: Creamer Media Reporter      16th July 2015 Kumba Iron Ore has started a Section 189 consultation process with unions regarding the closure of its Thabazimbi mine, in Limpopo, which will affect about 800 employees and 360 contractors. The mine was more than 80 years old and its closure had been postponed six times over the past 15 years... 

Kumba sees production increase, but outlook remains cautious

By: Megan van Wyngaardt     23rd April 2015 JSE-listed Kumba Iron Ore’s production for the first quarter ended March increased 7%, to 12.2-million tons, on the 2014 comparative period, declining 2% quarter-on-quarter. The company highlighted that its total export sales volumes increased by 22% year-on-year, but also fell 2% compared with... 

Kumba could close, sell Thabazimbi mine

By: Megan van Wyngaardt     10th February 2015 In light of low iron-ore prices, JSE-listed Kumba Iron Ore was reviewing options for its Thabazimbi mine. Speaking at the company’s year-end results, in Sandton, on Tuesday, Kumba CE Norman Mbazima said that, under the circumstances, the mine was “just not making money”, adding that the company... 

Kumba exceeds FY production target, but feels export price crunch 

By: Megan van Wyngaardt     10th February 2015 JSE-listed iron-ore miner Kumba Iron Ore exceeded the 35-million-tonne production target at its Sishen mine in 2014, owing to the successful implementation of a recovery plan for the mine. Output was 15% higher than the 30.9-million tonnes produced in the prior year and the Anlgo American... 

Kumba Q3 output up 37% y/y

By: Creamer Media Reporter      23rd October 2014 Kumba Iron Ore lifted its output by 37% year-on-year and 13% quarter-on-quarter to 13-million tonnes in the quarter ended September 30. The Sishen mine produced 9.3-million tonnes of iron-ore in the quarter – up 44% on that produced in the third quarter of 2013 and 11% higher than that produced... 

Kumba Iron Ore bridges digital divide in township schools with sun’s help

By: Martin Creamer     1st September 2014 Anglo American company Kumba Iron Ore on Monday opened a sun-powered Internet school in Tembisa. The initiative, at Jiyana Secondary School, is the first of four such projects to better education, feed pupils and produce cooking gas from recycled waste. 

Kumba’s cash return to black shareholding now at astounding R23bn 

By: Martin Creamer     23rd July 2014 The cash return of Anglo American’s Kumba Iron Ore to its black shareholding since Kumba’s listing on the Johannesburg Stock Exchange in 2006 has risen to R23.5-billion, Kumba CFO Frikkie Kotzee revealed this week. Kumba subsidiary Sishen Iron Ore Company (SIOC), in its interim dividend for 2014... 

Kumba providing helping hand to up-and-coming BEE iron-ore juniors 

By: Martin Creamer     22nd July 2014 South Africa’s biggest iron-ore mining company, Anglo American’s JSE-listed Kumba Iron Ore, is lending a helping hand to up-and-coming black economically empowered (BEE) iron-ore juniors in the Northern Cape and Limpopo provinces. Kumba CEO Norman Mbazima said on Tuesday that the company... 

Kumba revenue up on rand weakness, dividend maintained

By: Martin Creamer     22nd July 2014 The operational profit of JSE-listed Kumba Iron Ore fell 14% in the six months to June 30 on lower exports and the cost of increased mining activities. But revenue was up mainly on currency weakness and Kumba maintained its interim cash dividend of R5-billion, which amounts to R15.61 a share.... 

Steel group to review mining strategy in light of iron-ore settlement 

By: Terence Creamer     7th February 2014 Steel producer ArcelorMittal South Africa (AMSA) reports that protracted shareholder negotiations have been the main cause of a delay in it progressing with plans for a greenfields Northern Cape iron-ore mine. But outgoing CEO Nonkululeko Nyembezi-Heita said at the weekend that she still... 

AMSA continues to recover, but warns on weak conditions

By: Terence Creamer     7th November 2013 South Africa’s largest steel producer ArcelorMittal South Africa (AMSA) continued its recovery in the third quarter from a miserable first quarter, which was affected by a fire at its Vanderbijlpark mill, on the back of greater operational stability. However, it warned that earnings were likely... 

Kumba Q3 output dips 24% on Sishen underperformance

By: Natalie Greve     18th October 2013 Kumba Iron Ore’s third-quarter production decreased by 24% on the comparable prior year’s quarter to reach 9.5-million tons, as output from the company’s Sishen mine was hindered by ongoing pit constraints and a section 54 regulatory stoppage in August. The JSE-listed Anglo American subsidiary... 

Resources Watch  

By: Creamer Media Reporter      8th August 2013 This week: Draft mineral law ousts first-come first-served, initiates auctioning; Mining's fundamental business case needs rebuilding, Turton; and AMSA oprimistic of sealing Thabazibi deal with Kumba in H2. 

Kumba boosts q-on-q output as Sishen production recovers

By: Natasha Odendaal     18th July 2013 JSE-listed Kumba Iron Ore on Thursday reported a marginal year-on-year decline in second-quarter production, but its quarter-on-quarter performance had improved substantially, as its Sishen mine improved production rates following a strike in late 2012. The iron-ore producer – a unit of Anglo... 

Kumba Q1 output up 15%

By: Idéle Esterhuizen     19th April 2013 JSE-listed Kumba Iron Ore’s output for the quarter ended March 31 was 15% higher quarter-on-quarter at 10.34-million tons, owing to improved production at its Sishen mine and good performance at its Kolomela mine, both in the Northern Cape. Although production at Sishen fell by 11% year-on-year... 

N Cape iron-ore drilling campaign at advanced stage - Mittal 

By: Terence Creamer     6th February 2013 Steel producer ArcelorMittal South Africa is moving ahead with iron-ore exploration on three Northern Cape farms in the coming few months and expects to be in a position to provide a reserve estimate in the coming months. The company, which is seeking to diversify supply sources and close a... 

Mittal slumps to R518m 2012 loss, looking to break even in Q1

By: Terence Creamer     6th February 2013 Steel group ArcelorMittal South Africa (Mittal) slumped to a R518-million headline loss for the year ended December 31, 2012, on weak market conditions – a sharp pullback from the headline loss of R52-million recorded in the previous financial year. The final quarter of 2012 was also weaker when... 

Kumba Q4 output down 19% following Sishen strikes

By: Natalie Greve     25th January 2013 JSE-listed Kumba Iron Ore on Friday reported a 19% year-on-year drop in fourth-quarter output to nine-million tons, mainly as a result of an illegal strike at the Sishen mine.Fourth-quarter output was also 28% lower than that of the third quarter of 2012. 

Mittal aims to begin mining N Cape iron-ore prospect in 2015

By: Terence Creamer     25th July 2012 JSE-listed steel producer ArcelorMittal South Africa (Mittal), which is currently exploring an as-yet-unnamed iron-ore resource in the Northern Cape, hopes to begin mining on the property by 2015, partly in a bid to close an anticipated supply gap that would arise from Kumba Iron Ore’s aged... 

Kumba output advances 15% as Kolomela ramp-up continues

By: Mariaan Webb     19th April 2012 JSE-listed Kumba Iron Ore increased its March quarter production by 15% year-on-year to 10.1-million tons, aided by the ramp up of its new Northern Cape iron-ore mine. The Anglo American subsidiary said the Kolomela mine, near Postmasburg, added 1.5-million tons to its production in the quarter,... 

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