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Kumba Iron Ore Exec Hoping for Key Mining License by June
Feb. 05, 2014 12:34PM PST
Base Metals Investing
Reuters reported that yesterday, Norman Mbazima, chief executive of Kumba Iron Ore Ltd. (OTCMKTS:KIROY), a unit of Anglo American plc (LSE:AAL), said he expects the company to be granted a “key mining license” for the expansion of its South Africa-based Sishen mine during the first half of 2014.
Reuters reported that yesterday, Norman Mbazima, chief executive of Kumba Iron Ore Ltd. (OTCMKTS:KIROY), a unit of Anglo American plc (LSE:AAL), said he expects the company to be granted a “key mining license” for the expansion of its South Africa-based Sishen mine during the first half of 2014.
As quoted in the market news:
‘We have been interacting with (the authorities) about the process and nothing that we have seen so far suggests that there is any problem with getting that right granted,’ Chief Executive Norman Mbazima told Reuters.
‘If we don’t get it by the end of the first half … it could impact production in the longer term. We would have to replan the mine and we haven’t done any new plans yet; the geologists are doing it now just in case. We really want to get the rights and I have no doubt that we’ll get it.’