Kumba Resources Limited
Press Release
Telephone : + 27 (12) 307 4561 P.O. Box 9229
Telefax : + 27 (12) 307 4080 PRETORIA 0001
2002-04-03
KUMBA RESOURCES AND TRANSNET SIGN LANDMARK LONG-TERM AGREEMENT
Kumba Resources Limited (Kumba) and Transnet have announced the signing of a
landmark agreement to support future iron ore throughput on the Sishen-
Saldanha railway line, the lifeline of South Africa's iron ore export
business. The iron ore export business is one of South Africa's major
earners of foreign exchange.
The agreement represents a long-term arrangement between Kumba and Transnet,
represented by Spoornet and Portnet. In terms of the contract, the annual
capacity allocated to Kumba (which includes tonnages destined for Saldanha
Steel), will be increased to 23,5 million tons per annum.
Spoornet's General Manager Specialised Businesses, Tshidi Nyama, said that
the Transnet Group places priority on customer service and delivery and that
this agreement is proof of Transnet's commitment to meeting and even
exceeding customer expectations.
Feasibility studies are currently in process to increase the total capacity
of the iron ore export infrastructure to 38 million tons per annum. The
increase is aligned with Transnet's programmes to expand carrying capacity
on the Orex line and is supportive of Kumba's stated strategy of growing its
existing and potential new assets. Although Sishen Mine is already one of
the largest iron ore mines in the world, it has potential to be expanded. In
addition, the feasibility study of Kumba's new Sishen South Mine near
Postmasburg is on track for completion by December 2002.
According to Matie von Wielligh, General Manager Iron Ore of Kumba
Resources, the synergies obtained from the consolidation of the iron ore
interests in the Northern Cape and the utilisation of the Sishen-Saldanha
logistic system will play a pivotal role in economic development in the
Kgalagadi Basin of the Northern Cape.
Sishen Mine is one of the star performers in the Kumba portfolio. The mine
has just announced that its previous quarterly production record (April -
June 2001) has improved from 6 997 701 tons to 7 070 580 tons (for Jan -
March 2002).
Von Wielligh attributes this achievement to dedicated work teams that
continually challenge previous performance levels. "A new quarterly
production record is a great achievement as it indicates a sustained level
of production excellence over a significant period," he said.
Ends
Note
Kumba Resources Ltd, one of the largest South African-domiciled mining
companies listed on the JSE Securities Exchange, is a focused metals and
mining company with a diverse commodity portfolio consisting of iron ore,
heavy minerals, coal, base metals and industrial minerals.
Contact:
For Kumba Resources:
Matie von Wielligh
General Manager Iron Ore
Tel: +27 (12) 307 4913
Pat Mdoda
General Manager Corporate Affairs
Tel: +27 (12) 307 4616
For Transnet:
Bintu Petsana
Executive Manager Corporate Communications
Spoornet
Tel: +27 (11) 773 4437
Mrs Tshidi Nyama
General Manager Specialist Business
Spoornet
Tel: +27 (11) 774 3393
Mr Mdu Nene
General Manager Port Operations
Portnet
Tel +27 (31) 308 8310
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
