Kumba, Wuhan Steel discuss iron ore project
South African mining company Kumba Resources and
China's Wuhan Iron and Steel Co Ltd reportedly plan to invest in a joint venture
iron ore project.
Wuhan Steel officials stated that they have been in talks with Kumba about an
iron ore project for some time.
In 2004, Kumba exported 40% its total
iron ore production to
China, while the remaining 60% was headed to
Europe.
Wuhan meets 60-70% of its
iron ore requirement via imports.