Kumba drilling re-commences
Kumba says it has re-commenced drilling on the disputed Faleme iron ore deposit in Senegal with permission from that country’s minister of mines.
The country’s government and Mittal Steel, announced a deal over the same project last year which is where the dispute arose.
“We have not progressed on any specific legal impediments, or reached conclusions on any discussions,” Kumba’s chief executive, Ras Myburgh, told investors at the company’s results announcement.
The company says it has also increased its presence in the country by appointing a country manager and opened a branch office.
Faleme is a greenfields project with potential for 12mtpa of iron ore production.
I-Net Bridge
