Billiton, Kumba shares fall

Comment on this story
Kumbaironore Independent Newspapers Two workers at a Kumba Iron Ore mine. Photo: Simphiwe Mbokazi.

Johannesburg-listed shares of global mining company BHP Billiton drop more than 2 percent, while local firm Kumba Iron Ore also declines, after iron prices are squeezed by weaker demand from China.

Investors are concerned that a recovery in steel demand from the world's second-largest economy could stall, putting more pressure on the price of iron ore, which is used to make steel.

Billiton, which derived nearly a third of its 2012 revenue from iron ore, is down 2.4 percent at 291.28 rand.

Shares of Kumba are down 1 percent at 590.21 rand. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.