Kumba opposes ICT appeal bid

Kumba Iron Ore lodged papers on Friday opposing the application by Imperial Crown Trading and the Department of Minfpso market analysis report modeceral Resources to appeal against a judgment that ICT had no rights to the Sishen iron ore mine.

Friday was the deadline by which Kumba’s 74%-held Sishen Iron Ore Company had to lodge its opposition, as well as an application for a conditional cross-appeal if ICT and the department are granted leave to appeal. Judge Raymond Zondo, who ruled in Sishen and ArcelorMittal SA ’s case against the granting of a prospecting right to ICT over a 21,4% stake in the Sishen mine by the department, said in December the department had erred in awarding the right and ordered it to be set aside. Both ICT and the department appealed against the judgment that Sishen was the holder of 100% of the mine and that the right was not divisible. The matter flared up after ArcelorMittal, which held a 21,4% stake to the mine under old-order mining rights, did not apply for new order rights to that stake by May 2009. Kumba scrambled to...