KUMBA Iron Ore continued its rehabilitation, quite possibly in preparation for its demerger, announcing today its 76%-owned subsidiary, Sishen Iron Ore Company (SIOC), had...
China's steel industry body will allow mills to sign individual supply deals with global miners, as it seemed to abandon efforts to preserve annual pricing that for months had appeared doomed.
Kumba Iron Ore's chair Lazarus Zim has stepped down and its court challenge to the 21.4% prospecting right awarded to ICT for Sishen mine has suffered a setback.
Merafe Resources, which produces ferrochrome in a joint venture with Xstrata, says third quarter ferrochrome prices have dropped 11% quarter-on-quarter.
Anglo American has sold its non-core Amapa iron ore mine in Brazil to Zamin Ferrous for an undisclosed fee, the group said.
Steel production was likely to tick up in September and October in China with iron ore prices holding steady in the meantime, traders said.
The Korea Iron & Steel Association said it has joined European and Chinese steel bodies to oppose recent raw material price increases.
Rio Tinto has reported near-flat production growth of iron ore for the fourth quarter, weaker than some market expectations amid concerns that Chinese demand is softening.
Some 5,000 Kumba Iron Ore employees are set to get up to R500,000 each in November when a broad-based empoyee share participation scheme matures.
Norman Mbazima, Kumba Iron Ore CEO, believes government is realistic, but its plans for domestic iron ore pricing makes the firm's Africa footprint a useful option.