JOHANNESBURG (miningweekly.com) – The quality of iron-ore from the Northern Cape is continuing to differentiate South Africa in the global iron-ore market.
During the first half of this year, the average realised export price of $90 per wet metric tonne (wmt) was 8% above benchmark and among the strongest in the seaborne iron-ore market.
Kumba Iron Ore’s average iron content was 63.6% while its lump-to-fines ratio remained approximately 66%.
“We continue to supply markets beyond China, including Japan, South Korea, and Europe, achieving an overall price premium of $7 per ton above the benchmark,” Kumba CEO Mpumi Zikalala told journalists during a media call in which Mining Weekly participated.
While China’s steel demand is expected to plateau over time, long-term demand for premium iron-ore is expected to continue to be positive as higher-grade products play an increasingly important role in supporting new steel capacity, particularly in India as well as South East Asia.
