Kumba expects 70m tons production by 2019

[miningmx.com] — South-African based pure iron ore company Kumba Iron Ore said on Thursday that it expects to increase output to 70 million metric tons by 2019, from 39.4 million in 2009.

Kumba CEO Chris Griffith told journalists during a presentation at its Sishen mine
that exports for 2010 were expected to be between 35 million and 36 million tons, up
from 34.2 million last year.

“That forecast was given at the start of the year, and is still true for now,” Griffith

He pointed to a 41% increase in exports to China in 2008, while in 2009, the Asian
country saw shipment of iron ore that would have otherwise gone to customers in
Western Europe.

China is expected to see a 60% of total exports from the group in 2010 as it looks to continue its steel production drive.

Kumba reported export sales up to 34.2 million tons in 2009, from 24.9 million
tons in 2008.

The group expects an additional 10% rail to port increase in 2010.

Griffith also said that Kumba was in a position to extend Thabazimbi Mine to 2016.