Kumba: Company Applied For Mining Right At Sishen Mine
January 14 2011 - 9:09AM
Dow Jones News
Kumba Iron Ore Ltd. (KIO.JO), South Africa's largest producer of
the steel-making ingredient, Friday said it has been notified
little-known Imperial Crown Trading 289 has applied for a mining
right on a minority stake in its Sishen Mine.
The application has been accepted by the Department of Mineral
Resources, which Kumba said it believes is unlawful as there is a
pending High Court review of the government's earlier decision to
award ICT a prospecting right on a 21.4% interest in Sishen.
The rights to the 21.4% stake in Sishen belonged to steel
producer ArcelorMittal South Africa Ltd. (ACL.JO) until they
lapsed.
Kumba said it will appeal the decision to accept the mining
right application from ICT, adding neither ICT nor the government
have as yet filed answering affidavits to the High Court
review.
Kumba is majority owned by Anglo American PLC (AAL.LN).
-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848;
robb.stewart@dowjones.com
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