Kumba expects iron prices to remain low on increased supply and slowing demand

Kumba Iron Ore released results, warning iron ore prices are expected to remain under pressure as Australian and Brazilian producers increase supply, and demand growth from China slows.

The Money Show’s Bruce Whitfield interviewed Kumba CEO Norman Mbazima.

Scroll down to listen to the audio.

Smaller producers will have to leave the market. We hope to stay in and benefit from this lower supply.

Norman Mbazima

We’re significantly reducing our capital expenditure and waste. We’re cost-cutting in every single department of the company.

Norman Mbazima

There are about 1200 jobs on the line.

Norman Mbazima

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Trends that’ll dominate the business environment in 2018

Trends that’ll dominate the business environment in 2018

It’s time to start thinking about how to keep your business relevant next year, says small business guru Pavlo Phitidis.

What you must learn from the Steinhoff and EOH share price collapses

What you must learn from the Steinhoff and EOH share price collapses

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

Is Naspers too dependent on Tencent?

Is Naspers too dependent on Tencent?

We interviewed Naspers CEO Bob van Dijk about the perceived over-reliance of his company on Chinese behemoth Tencent.

Chinese economic growth hits 24-year low

Chinese economic growth hits 24-year low

“The country's period of miraculous break-neck growth is over,” said the state-run Xinhua News Agency.

How once tiny Afrikaans publisher Naspers became an emerging market juggernaut

How once tiny Afrikaans publisher Naspers became an emerging market juggernaut

Bruce Whitfield speaks to historian Professor Lizette Rabe about the story of the Nasionale Pers.

Will Africa see its own version of China's Alibaba success story?

Alibaba has just become the biggest IPO in history, Jonathan Cherry asks if we could have a similar story coming out of Africa

Popular articles
Dr Mbuyiseni Ndlozi opens up about his thesis

Dr Mbuyiseni Ndlozi opens up about his thesis

Ndlozi explains the significance of the the first chapter of his thesis: 'Trauma in the archives'.

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

The Money Show’s Bruce Whitfield interviews Steinhoff International Chairperson Christo Wiese.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Is it normal to have a curved penis? Dr Shingai explains

Is it normal to have a curved penis? Dr Shingai explains

Urologist Dr Shingai Mutambirwa says penile curvature is only a concern if it impedes a man's ability to have penetrative sex.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?