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Kumba Iron Ore and the coronavirus conundrum

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With China demand slowing down, the miner has to find a market for R1.4bn in ore it can’t just sit on

The timing for Kumba Iron Ore could be worse. Its only client in SA, ArcelorMittal SA, has stopped its Saldanha steel mill and is considering alternative ore sources for its other plants.

For Africa’s largest iron ore producer, the difficulties at ArcelorMittal come at a time when the global market for the key steel ingredient is beset by uncertainty caused by the outbreak of the coronavirus in China.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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