Always wanted to own a piece of a wine farm? Here's how to make it a reality
NEW GUIDELINES: Can parents now choose where to buy school uniform?
The WheelChair Doctor creates wheelchairs that can go up the stairs
Sufficient prima facie evidence of misconduct against Mkhwebane, panel finds
ConCourt to hear state capture contempt application against Zuma on 25 March
What the new Level 1 means
Sea Harvest buoyant with 17% annual profit hike despite choppy economic seas
Public sector trade unions demand CPI plus 4% as final wage demand submitted
'State-sponsored corruption should outrage South Africans' - Sars commissioner
Luxury living awaits you at Brookfield at Royal
How to deal with cellphone addiction in a relationship
[WATCH] Moonstruck 2021 - CapeTalk's iconic music festival
Cricket SA to lodge dispute with ICC over cancelled Australian tour
'It will be really interesting to see how Siya Kolisi fits into the Sharks team'
Few believed in me. Most actively discouraged me - Heyneke Meyer pens book
'Love Island SA cast doesn't feel South African,' says television critic
[WATCH] Superyacht worth millions crashes into dock after computer malfunction
Actors dressing down for Golden Globes has social media talking
Foreign investment boost of R1.6 billion for digital-only TymeBank
The future of renewable energy is bright
Energy is the gatekeeper to a prosperous future
'Kenya Airways said SAA is our role model! We want lots of government money!'
The race to win the battle of energy storage is on
Coal to gas shift – a major step toward energy stability in SA
Does an emotive Sars advert make you feel better about paying tax?
A South African fraudster fleeced US Big Tech out of R620 million ($42 million)
Kumba Iron Ore reports record earnings: 'We're confident in terms of the future'
One of the big surprises of 2020 was the huge positive global impact of commodity demand. We've seen platinum companies shoot the lights out! We're also seeing very strong demand for iron ore worldwide.
Bruce Whitfield, The Money Show host
Partly as a result of this global demand, Kumba Iron Ore has reported record earnings for the year ended 31 December.
It delivered an EBITDA (earnings before interest, tax, depreciation, and amortisation) of R45.8 billion and R20.7 billion in free cash flow, an increase of 21%.
Kumba declared a final dividend of R41.30 a share, that included a top-up of R8 a share.
Kumba's also announced approval of the R3.6bn extension of the life of its flagship Sishen mine in the Northern Cape, to 2039.
Bruce Whitfield gets comment from Kumba CEO Themba Mkhwanazi on The Money Show.
We certainly saw a very, very robust and strong iron ore price as you said, driven by China, particularly in the first half.
Themba Mkhwanazi, CEO - Kumba Iron Ore
On the demand side what we saw in the second half - when the rest of the world was getting over Covid - some of the markets in Europe started opening up... which was supportive of the higher iron ore prices.
Themba Mkhwanazi, CEO of Kumba Iron Ore
We tend to get a higher realised price than the index price - it's testament again to the superior quality of our product.
Themba Mkhwanazi, CEO - Kumba Iron Ore
We are quite confident in terms of the future, in terms of our business.
Themba Mkhwanazi, CEO - Kumba Iron Ore
He says the company's life-of-mine extension demonstrates not only confidence in Kumba, but also in investment in South Africa.
This will maximise product quality and extend Sishen’s life-of-mine to 2039. We are also developing our Kapstevel South mine at Kolomela, while continuing our exploration programme in the Northern Cape as we develop our resource pipeline.
Themba Mkhwanazi, CEO - Kumba Iron Ore
Through our use of technology we are also actually improving the quality of jobs.
Themba Mkhwanazi, CEO - Kumba Iron Ore
Listen to the interview on The Money Show:
This article first appeared on CapeTalk : Kumba Iron Ore reports record earnings: 'We're confident in terms of the future'
Copyright : More from Business
Always wanted to own a piece of a wine farm? Here's how to make it a reality
Hemelzicht Vineyards, a new investment model that gives the public the opportunity to own a share in a luxury wine estate.
Read More
Sea Harvest buoyant with 17% annual profit hike despite choppy economic seas
Despite lockdowns and the global pandemic the fish supplier stayed afloat and was even able to do swimmingly during the past year.
Read More
Public sector trade unions demand CPI plus 4% as final wage demand submitted
The demands have been submitted to the general secretary of the Public Service Coordinating Bargaining Council (PSCBC).
Read More
'State-sponsored corruption should outrage South Africans' - Sars commissioner
'I'm infuriated!' Commissioner Edward Kieswetter says he feels the need to speak truth to power. Strong words on The Money Show.
Read More
As export sales boost profit, Distell (Savanna, Klippies) eyes Africa expansion
Despite the killer liquor bans in SA, Distell posted a double-digit profit for 2nd half of 2020 says Group CEO Richard Rushton.
Read More
Woolworths' online food sales soar, but fashion business 'disappointing'
Woolworths is not paying an interim dividend, despite strong profit increase. The Money Show interviews Group CEO Roy Bagattini.
Read More
Discovery results: 'Strong operating performance, well-positioned for growth'
Earnings were negatively impacted by exchange rate volatility but Covid-19 provisions resilient, says Group CEO Adrian Gore.
Read More
Strong recovery for 2nd half of 2020 sees Anglo American weather a tough year
'I am immensely proud of how our team of more than 95,000 people across Anglo American pulled together' says CEO Mark Cutifani.
Read More
Sars plans to tax retirement funds if you leave SA, target offshore assets
The proposal to tax retirement fund members when no longer tax-resident in SA is not unreasonable, says Prof. Osman Mollagee.
Read More
Med scheme covers chemo treatment but not weekly Covid test required by hospital
Consumer ninja Wendy Knowler follows up on the case of a patient who'd been paying his membership dues for more than 40 years.
Read More
Highlights