Iron ore deal from Kumba and Corus

Iron ore deal from Kumba and Corus

According to recent news in the market, South African Kumba has signed an agreement with Anglo-Dutch steel maker Corus to supply Sishen iron ore to Corus for five years. The capacity of Sishen mine of Kumba is planned to be increased to 28 million tons from 27 million tons by the end of 2004 and to 38 million tons by 2007. The deal also covers the products under the scope of Sishen expansion project. Feasibility study is scheduled to be completed by August 2004.