Posted to the web 25 July 2008 Charlotte Mathews Johannesburg KUMBA Iron Ore was on track to double exports of iron ore from Northern Cape to 44-million tons by 2013, CEO Chris Griffith said yesterday. When added to domestic sales of about 9 -million tons a year, this would give Kumba (KIO) total production of more than 50-million tons a year within the next five years, he said. The group, which spent about R800m on expansion in the first half of this year, plans to spend R1,5bn-R1,8bn in the six months to December, rising to about R4bn next year, chief financial officer Vincent Uren said. Kumba would lift its debt capacity this year as it was more efficient to use debt than equity for these projects. In the six months to June, revenue rose to R9bn, 67% higher than in the previous corresponding period, on higher iron-ore...
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