Iron ore and steel: China prepares for winter

The collapse of iron ore prices in the face of oversupply has been threatened for the last few years. Following massive investments in Australia and Brazil, oversupply was expected to hit dwindling demand on the back of a cooling Chinese property market and an environmental crackdown on excess steel production. Yet despite repeated dire warnings,
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Kumba Iron Ore is considering regional consolidation, exploration and technology to grow and replace mined ore at its Sishen and Kolomela mines in the Northern Cape. Kumba, which is majority owned by Anglo American, is SA’s largest iron ore miner and exports about 44-million tonnes of ore, making it the world’s fifth-largest source of seaborne
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