Kumba wants to build a plant in South Africa

Mining company Kumba Iron Ore proposes to build South Africa's Iron and Steel Works. On it informs Bloomberg. It is assumed that the company will specialize in the production of steel slabs, which will continue to supply to Asia, including China, South Korea and Japan. As expected, the power plant will be about 5 million tons per year. Investment in the project are estimated at 6-7 billion dollars recall that Kumba Iron Ore in 2010 increased net profit by 2, to 14.3 billion rand (1.97 billion dollars). The financial result of the concern has improved in the wake of growing demand in Asia, which led to an increase in iron ore prices. Revenue Corporation on the basis of last year increased by 65% ??and reached 38.7 billion rand (5.3 billion dollars). South African company, "Kumba Iron Ore Ltd." engaged in the production of iron ore and takes 10 place among the world's largest producers of this type of stuff. Its main owner is a mining holding company Anglo American. Ministry of Industry