Company type | Public |
---|---|
JSE: KIO | |
Industry | Mining |
Headquarters | Centurion, Gauteng (City of Tshwane Metropolitan Municipality), South Africa |
Key people | Mpumi Zikalala (CEO), Bothwell Mazarura (CFO), Vijay Kumar (COO) [1] |
Products | Iron Ore |
Revenue | R 80.1 billion (2020) [2] [3] |
R 20.7 billion (2020) [2] [3] | |
Number of employees | 14,040 (2014) [4] |
Website | www |
Kumba Iron Ore is an iron-ore mining company in South Africa. It is the fifth largest iron-ore producer in the world and the largest in Africa. [5] [6]
Kumba Iron Ore is a successor of Kumba Resources, which was listed on the Johannesburg Securities Exchange in 2001. Kumba Resources was reorganized in November 2006 when heavy minerals operations were spun off to the newly created company Kumba Iron Ore and coal to Exxaro Resources. [7]
Kumba Iron Ore Ltd. listed on the JSE in November 2006 with a market capitalization of R36 billion. [8]
Kumba Iron Ore owns 74% in Sishen Iron Ore Company (SIOC). Rest of SIOC is owned by Exxaro, SIOC Employee Share Participation Scheme and the SIOC Community Development Trust. Through the SIOC, Kumba Iron Ore owns Thabazimbi, Sishen and Kolomela iron ore mines.
In 2010, Kumba Iron Ore was one of the more successful divisions of Anglo American plc, continuing to pay dividends to shareholders while Anglo American and Anglo Platinum had suspended dividends in 2008. [9]
Sishen Mine is situated in Kathu in the Northern Cape Province. It is one of the largest open pit mines in the world [10] Kumba Iron Ore has reported that Sishen Mine has reserves for a 19-year life of mine. Mining methods at Sishen are opencast mining. Ore is transported to the beneficiation and jig plant. [11] The Sishen mine jig plant is the largest of its kind in the world.
By July 2016, production had been halved and workforce cut by 31%, in response to the slump in global iron ore prices. [12]
Located close to Thabazimbi in the Limpopo Province, mining operations started in 1931. [13] Mining is by opencast methods. In a deal brokered in 2013, the high-grade haematite ore produced at Thabazimbi mine would be sold only to ArcelorMittal SA, while Kumba Iron Ore managed operations. [14] However, in February 2015, Kumba announced that the Thabazimbi mine was no longer economically viable. [15]
Kolomela mine is located at Postmasburg in the Northern Cape Province. Mining operations started in 2011, [16] and the company has reported a 25-year mine lifespan. [17] [18] 2019 iron ore production: 13.2 MT.
In 2010, Kumba Iron Ore started legal proceedings against Imperial Crown Trading 289 [19] and the Ministry of Mines for the issuance of a mining licence after ArcelorMittal SA did not complete paperwork by the due date and failed to convert their 21.4% undivided share. [20] This led to the assets reverting to the State, which then awarded the licence to a previously unknown company, Imperial Crown Trading 289. [21] [22]
Shareholders of Kumba Iron Ore are:
Kumba Iron Ore reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 910 Kt (-90 /-9% y-o-y). [24]
Dec 2018 | Dec 2019 | Dec 2020 |
---|---|---|
960 | 1,000 | 910 |
Kathu is a town in South Africa, and the iron ore capital of the Northern Cape province. Its name means "town under the trees", after the Camel Thorn forest it is situated in. The phrase "the town under the trees" was coined by an engineer working in the town in the early-1990s as part of a tourist marketing drive, together with the accompanying graphic. It was intended to be a marketing slogan. The meaning of the word "Kathu" has anecdotically been attributed to a porridge brewed by the local population from the powder found in the pods of the Camel Thorn trees.
Anglo American plc is a British multinational mining company with headquarters in London, England. It is the world's largest producer of platinum, with around 40% of world output, as well as being a major producer of diamonds, copper, nickel, iron ore, polyhalite and steelmaking coal. The company has operations in Africa, Asia, Australia, Europe, North America and South America.
Thabazimbi is an iron mining town in the Limpopo province of South Africa. The town is at the feet of the Ysterberg and is surrounded by the Witfonteinrand and Boshofberg with the majestic Kransberg in the background. The name Thabazimbi means mountain of iron because of the large iron ore reef that was discovered in 1919 by J. H. Williams. The mine boasts one of the largest mining shafts in Africa. More than two million tonnes of ore are mined every year and hauled by train to Mittal's iron and steel works. The railway line from Rustenburg reached the area in the 1930s and full scale iron and steel production began. The town was proclaimed in 1953. Kumba Iron Ore, previously Kumba Resources, is now the principal operator of the iron ore mine.
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ArcelorMittal S.A. is a Luxembourg-based multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel. ArcelorMittal is the second largest steel producer in the world, with an annual crude steel production of 78 million metric tonnes as of 2022. It is ranked 197th in the 2022 Fortune Global 500 ranking of the world's largest corporations. It employs around 154,000 people and its market capital is $20 billion. The total value of company assets is estimated to be around $94 billion.
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Postmasburg is a town in the Northern Cape province of South Africa.
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