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South Africa Seeks Iron Ore Price Accord for Sishen Mine

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In a bid to sort out the stalled sales at a disputed mine in South Africa, the government has asked for iron ore from the disputed portion of the Sishen mine to be sold at cost plus 3%. Disputed mining rights claims are commonplace in South Africa.

Kumba Iron Ore Ltd which is a subsidiary of Anglo American Plc has filed a lawsuit against the South African Government’s decision to give 21.4% of the Sishen mining rights to Imperial Crown Trading. Kimba Iron Ore also missed a deadline to supply ore from Sishen to ArcelorMittal based on a nine year deal.

AreclorMittal South Africa is hoping to acquire Imperial Crown Trading making it part of the biggest steel making conglomerate in the world. It will also add weight to its fight against Kumba Iron Ore as they have been at loggerheads for some time now.

The South African Government is also hoping to cap steel prices as it sets into motion a new pricing scheme which would be competitive and not allow large companies to dominate and charge excessive prices for steel.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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