Kumba Iron Ore Mining News

Changes at Kumba Iron Ore board of directors

Along with other changes, Zarina Bassa has informed Kumba of her intention to step down as an independent non- executive director at the Company’s forthcoming AGM on 11 May 2017, after serving eight years.

Anglo American not selling assets any more as it returns to profit

The world's number five diversified miner posted its first annual net profit in five years.

Kumba’s earnings doubled on higher prices, cost cutting measures

The Anglo American's unit logged earnings of $607 million for 2016, basically double the $304 million it recorded in 2015.

Anglo American to sell Kumba despite iron ore rally — experts

While iron ore prices have climbed 90% in the last year to over $80 a tonne, the sale of Kumba would prove prudent for Anglo's long-term outlook, given its high debt load, BMI analysts say.

Kumba Iron Ore settles tax dispute in South Africa

The miner, Africa's largest iron ore producer, will pay R2.5 billion, considerably less than the original R6.5 billion it had been asked to cough up.

Anglo’s Kumba Iron Ore just got a lot more attractive to potential buyers

The company, Africa's largest iron ore producer, expects profits to more than double this year on the back of higher iron ore prices and a weak rand.

Anglo American about to make key decision on South African assets sale

While the miner is not longer being pressed to include its platinum assets in the divestment plan, the issue of how to package mines and which ones to include, remains a bone of contention.

Changes to the Kumba Board

Kumba is pleased to announce the appointments of Ms Nonkululeko Dlamini (nee Veleti) and Mr Seamus French as non-executive directors to the Board, with effect from 1 November 2016.

Kumba becomes the sole owner of Sishen mine

South Africa has granted the miner, a unit of Anglo American, previously disputed mining rights at the operation, ending a seven-year dispute.

Anglo's top shareholder to call vote on assets sale plan

South Africa's Public Investment Corporation (PIC), which owns 14.5% of Anglo, believes the mining giant may not realize the full value of its assets.

Anglo reshuffles Kumba Iron Ore management ahead of sale

The company however is still debating whether to sell or spin off its majority stake in Kumba Iron Ore Ltd, Africa's top producer of the commodity.

Anglo hit by platinum, iron ore units lower earnings outlooks

The miner shed over 3.7% after two of its business divisions — Amplats and Kumba — warned they expected full-year earnings to shrink more than previously flagged.

Africa’s largest iron ore miner hit hard by weak prices

While final results will be released on July 22, Kumba Iron Ore expects first-half profit to slide by as much as 19%.

Anglo American’s Kumba, ArcelorMittal reach iron ore supply deal

The deal, effective Jan. 1, marks the end of all existing legal battles between the two companies.

Standard and Poor's cuts Anglo American's outlook to negative

Global credit rating firm Standard and Poor's (S&P) downgraded Wednesday its outlook on Anglo American PLC (LON:AAL) to negative from stable as a result of growing concerns about the effects of South Africa’s mining strikes on the company's mining operations and on the wider economy.

Kumba full year profit to double

Increased sales and higher export prices were behind a likely doubling of full year profits, the South African iron ore miner said on Monday.

South Africa to review Sishen prospecting right decision

The announcement comes after Kumba iron ore appealed against the decision last week