Kumba Iron Ore8217s interim earnings fall on lower sales and lockdown.
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JOHANNESBURG Reuters 8211 South Africas Kumba Iron Ore Ltd on Tuesday reported a 17 drop in interim earnings due to the impact of the new coronavirus on output and sales but remained upbeat about its ability to withstand the turmoil.
Tata Steel has captive coal mines at Jharia amp West Bokaro, in the state of Jharkhand, located within 200 km from Jamshedpur. The iron ore units are located in Noamundi, Joda, Khondbond and Katamati in the states of Jharkhand and Odisha.
We are a resilient and capital efficient business with a robust balance sheet, well positioned to navigate the current environment and the longer term, said Kumba chief executive Themba Mkhwanazi.
The company, which declared an interim cash dividend of 19.60 rand, also approved a 7 billion rand 426 million project to develop the new Kapstevel South pit at its Kolomela operations in the Northern Cape province.
The project, which is expected to deliver its first ore in 2024, will contribute to sustaining production of 13 million tonnes for the remaining life of the Kolomela mine.
During the period production dropped by 11 to 17.9 million tonnes compared with the same period a year ago due to the lockdown and reduced output levels during the pandemic.
Kumba said sales volumes had also declined by 13 to 18.6 million tonnes due to weaker exports and lower domestic sales.
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Mumbai Tata Steel Ltd will sell a majority stake in an iron ore mine in South Africa to IMR Metallurgical Resources AG, a Switzerland-based metals and mining group, for 366 million South African.
Tata Steel to sell off stake in South Africa iron ore mine to Swiss firm The Economic Times This amounts to a deal size of about Rs 188 crore. The transaction is expected to be closed in around 12 months. quotTata Steel Ltdquot,quotFACORquot,quotsouth africaquot,quottata steelquot,quotNational Company Law Tribunalquot,quotTS Global Minerals Holdingsquot,quotblack peoplequot.
Statistics South Africa has reported that mining production decreased by 28.2 year-on-year in June. The largest negative contributors were platinum-group metals, with output down 42.5 and contributing10.6 percentage points and iron-ore, with output down 54.2 and contributing6.7 percentage points.
Feb 19, 2020nbsp018332South Africas mining industry net profit by commodity 2018 quotIron ore mine production in South Africa from 2009 to 2019 in million metric tons.quot Chart. February 7, 2020. Statista.
Beeshoek Mine is situated approximately 65 km south of the Khumani Mine near the town of Postmasburg, in the Northern Cape Province of South Africa The mine previously supplied all of Assmangs iron ore output since 1964 A series of large-scale infrastructure projects had maximized efficiency and productivity on site, which included a full.
The Mining of Iron Ore in South Africa. This report focuses on the South African iron ore mining sector which produced 78 million tonnes Mt of iron ore during 2014. Of this total, 67.2Mt worth US6.7bn was exported. China remains the largest importer of South African iron ore, importing 73 of all local iron ore exports in 2014, valued at US.
The South African Iron Ore Cluster Page 2 2.0 HISTORY OF SOUTH AFRICA In 1652, Dutch settlers landed at the Cape of Good Hope to develop farming for ships en route to.
The Sishen mine is located 30km away from the town of Kathu in the Northern Cape Province, South Africa. It is one of the largest open-pit mines producing iron ore in the world. Mining at Sishen is carried out as part of Anglo Americans Kumba Iron Ore operation. The mine accounts for the majority.
As one of the iron ore mines in South Africa, Kumba Iron Ore focuses on exploring, beneficiating, marketing as well as the sales of iron ore to the international market. The company succeeded Kumba Resources after the operations of coal and heavy minerals spun off back then in November 2006.
Iron ore Anglo American South Africa. Iron ore is the key component in steel, the most widely used of all metals. In South Africa our iron ore operations are made up of a 69.7 shareholding in Kumba Iron Ore Limited Kumba, a leading supplier of seaborne iron ore. Kumba is listed on the Johannesburg Stock Exchange and operates three mines.
Mining operations at sedibeng iron ore commenced in april 2012 IMR Asia Holding Pte Ltd is a 100 Stakeholder of Black Ginger 461 Pty Ltd Black Ginger 461 Pty Ltd is a 64 stakeholder in Sedibeng Iron Ore Pty Ltd, Cape Gannet Properties 277 Pty Ltd is a 26 stakeholder and Independent Development Corporation is a 10 stakeholder.
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Mining production in South Africa slipped 28.2 from a year ago in June of 2020, following a downwardly revised 27.6 fall in May. It was the fourth consecutive month of downturn in mining activity and steeper than in May, as miners continued to face difficulties even after some lockdown restrictions were lifted. Main downward pressure came from PGMs42.5 vs26.4 in May iron ore54.2.
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Tata Steel Ltd will sell its majority stake in an iron ore mine in South Africa to Switzerlands IMR Metallurgical Resources AG for 366 million South African Rand Rs 1,880 crore or 256 million at current exchange rates.
The steelmaker, part of the salt-to-software conglomerate Tata Group, informed stock exchanges on Monday that it has agreed to sell Black Ginger 461 Pty Ltd to IMR Asia Holdings Pte Ltd, a group company of IMR Metallurgical.
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