South Africa Will Decide on Disputed Sishen Mine Rights Within `Next Week'
South African Mines Minister Susan Shabangu will make a decision on disputed prospecting rights at Sishen, Africa’s largest iron ore mine, “within the next week,” the Department of Mineral Resources said.
“The department received a request from Kumba Iron Ore Ltd. to reconsider the granting decision,” Sandile Nogxina, director general of the department, said in a text message today. The minister “will make her decision known within the next week.”
Kumba is challenging the decision to award 21.4 percent of the prospecting rights at Sishen to Imperial Crown Trading Ltd., a company whose only asset is that right. Kumba, a unit of Anglo American Plc, owns the rest of the mine’s rights. The government said on March 22 it would review the award.
The stake was owned by ArcelorMittal South Africa Ltd. until it reverted to the state after the steelmaker failed to renew the rights in time, according to the Department of Mineral Resources. The government rejected Kumba’s application for the rights, instead awarding them to Imperial, the department said on March 18.
To contact the reporter on this story: Ron Derby in Johannesburg at rderby1@bloomberg.net
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