Kumba Starts $382 Million Town Resettlement as Review Under Way
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Kumba Iron Ore Ltd. started moving more than 500 households as part of plans to raise output at Africa’s largest mine for the steelmaking ingredient as the Anglo American Plc unit announced a business review.
Kumba will move some homes from the west of the Sishen mine to a new precinct in the nearby town of Kathu in South Africa’s Northern Cape province by year-end, Public Affairs Head Yvonne Mfolo said today. The rest, as well as businesses, schools, clinics and churches, will be moved by the end of 2016 in the 4.2 billion-rand ($382 million) project. It’s reviewing all operations, spending plans and product portfolios after prices fell to a five-year low, spokesman Gert Schoeman said.