Kumba Iron Ore Price Settlement
Release Date: 17/06/2003 14:27:01 Code(s): KMB
KUMBA IRON ORE PRICE SETTLEMENT
KUMBA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Share Code: KMB
ISIN code: ZAE 000034310
("Kumba")
Telephone : + 27 (12) 307 4843 P.O. Box 9229
Telefax : + 27 (12) 307 4080 PRETORIA 0001
17 June 2003
Kumba Resources Limited ("Kumba") today announced that Kumba Iron Ore has
reached agreement with European as well as Asian customers on prices for Sishen
fine and lump iron ore deliveries for the year 1 April 2003 to 31 March 2004.
The increased prices will be backdated to 1 April 2003.
The price of fine ore will increase by 9% and the price of lump ore will
increase by 8,9% on a FOB basis.
"We are pleased with the price increases," said Matie von Wielligh, general
manager of Kumba Iron Ore. "It will, however, not fully compensate for the
negative effect of the strong Rand on our business."
Market conditions for iron ore are favourable and Kumba expects to export more
than 20 million tons in the financial year ending 30 June 2003.
ends
Note
Kumba Resources Limited, 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
For media relations enquiries, please contact:
Pat Mdoda
General Manager: Corporate Affairs
Tel: 012 - 307-4553
Mobile: 083 609 1204
For investor relations enquiries, please contact:
Trevor Arran
General Manager: Investor Relations
Tel: 012 - 307-3292
Mobile: 083 609 1444
Date: 17/06/2003 02:27:03 PM Supplied by www.sharenet.co.za
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