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KUMBA RESOURCES LIMITED - NEWS RELEASE: KUMBA INCREASES IRON CORE SUPPLY TO
CORUS
Kumba Resources Limited
JSE Share Code: KMB
ISIN: ZAE000034310
NEWS RELEASE: KUMBA INCREASES IRON CORE SUPPLY TO CORUS
25 May 2004
South African diversified metals and mining company Kumba Resources Limited
(`Kumba`) has signed a contract with major Anglo-Dutch steel producer Corus for
a five-year supply of Sishen iron ore.
The contract is the first to include an option to purchase new iron ore products
from Kumba`s Sishen mine expansion project. The expansion will take Sishen`s
current output of 27Mtpa to 28Mtpa by end of 2004, with a further increase to
38Mtpa by 2007. The final feasibility study for the project will be completed in
August 2004 and is expected to be approved for implementation the following
month.
In terms of the contract, Kumba will supply Sishen ore to Corus from 1 April
2004 to 31 March 2009. The tonnage supplied is set to increase from 2,6Mtpa
during 2004/05 to 3,3Mtpa in 2008/09 plus an additional annual tonnage of
between 450 000 t and 750 000 t.
The relationship between Corus and Kumba dates back to 1977 when Sishen exports
to Corus` UK operations commenced. The first shipment of 71 053 t of Sishen ore
was loaded on to the MV. `King George` in January 1977. The relationship has
subsequently developed to the extent that Corus has become Kumba`s largest
single export customer in terms of volume.
At the signing ceremony of the new contract in South Africa, Dr Patrick Doolan,
director of supplies and transport at Corus, and Matie von Wielligh, general
manager of Kumba`s iron ore division, expressed their appreciation for the
parties` mutual co-operation and their commitment to further develop and expand
the strong working relationship between the two companies.
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
Corus is a multinational metals group which provides innovative steel and
aluminium solutions to customers worldwide. Corus focuses on the construction,
transportation, general engineering and packaging markets. Corus employs 50 000
people and has operating facilities in many countries with major plants located
in the UK, the Netherlands, Germany, France, Norway, Belgium and North America.
Corus also has sales offices and service centres worldwide. www.corusgroup.com
Kumba Resources Limited
P.O. Box 9229
PRETORIA 0001
Telephone: + 27 (12) 307 4843
Telefax: + 27 (12) 307 4080
Media relations enquiries:
Hilton Atkinson
Manager: Corporate Communication
Tel: (012) 307 4843
Mobile: 083 609 1452
Investor relations enquiries:
Trevor Arran
General Manager: Investor Relations
Tel: (012) 307 3292
Mobile: 083 609 1444
Date: 25/05/2004 03:55:03 PM Produced by the JSE SENS Department
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