Kumba - Saldanha And Qingdao Sign Sister Agreement
Kumba - Saldanha And Qingdao Sign Sister Agreement To Promote Kumba Exports
Kumba Resources Limited
ISIN: ZAE000034310
Share code: KMB
Kumba Resources Limited (`Kumba") reached another milestone when a delegation
from Qingdao Port in China signed a co-operative agreement with the Port of
Saldanha. The agreement is aimed at supporting and promoting Kumba`s iron ore
exports to customers in Northern China through co-operation and support from the
two ports ensuring a highly efficient logistics chain between the two ports.
The agreement, signed by Chang Dechuan, Director of the Qingdao Port authority
and Nad Govender, General Manager of Portnet`s Operations in the Western Cape,
entails reclaiming and loading iron ore for export at Saldanha Port as well as
discharging, stockpiling, reclaiming and loading iron ore at Qianwan Port to
supply raw material to Kumba`s customers in Northern China. The target volume
for this financial year is 2,2 million tonnes, which is expected to increase to
at least 4 million tonnes in the next few years.
Port Authority Director Chang Dechuan said that the delegation`s visit to South
Africa symbolised the beginning of a new era in their relationship with the
entire business chain associated with Kumba`s iron ore exports to Qianwan Port.
Kumba and the Port Authority of Qingdao signed a landmark 10-year agreement last
week for the handling and use of iron ore stockpile of facilities at Qianwan
Port.
ends
Note
Kumba Resources Ltd, one of the largest South African-based 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. www.kumbaresources.com
Contact:
Matie von Wielligh
General Manager: Kumba Iron Ore
Tel 012 - 307 4913
Hennie van Staden
Manager: Logistics, Iron Ore
Tel 012 - 307 4919
Date: 04/11/2002 02:05:02 PM Produced by the JSE SENS Department
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