Table of Contents
Key Points
- Mpumi Zikalala became CEO of Kumba Iron Ore in 2022, leading the company to substantial financial growth and solidifying its global position.
- Under Zikalala’s leadership, Kumba’s market capitalization surged to $6.3 billion, with net profit rising 51.64% to $1.66 billion by 2024.
- Zikalala advocates for diversity, holding leadership roles in multiple organizations and promoting gender equity in South Africa's mining sector.
From her humble beginnings in the business world, Nompumelelo “Mpumi” Zikalala has risen to become one of the leading figures in the global mining industry, thanks to her exceptional leadership. Her appointment as CEO of Kumba Iron Ore on Jan. 1, 2022, solidified her role as a transformative force not only in Africa’s mining sector but also in the broader corporate world.
As the CEO of Kumba Iron Ore, Zikalala oversees the operations of a South African mining giant with a market capitalization of $6.3 billion. She is at the forefront of driving operational excellence and transformative change, all while consistently delivering impressive value to shareholders. Her journey to the top of Kumba is a powerful testament to her resilience, ambition, and unwavering commitment to excellence.
Breaking barriers in mining leadership
Armed with a B.Sc. in Chemical Engineering from the University of the Witwatersrand and leadership development training from the London Business School, Mpumi Zikalala began her career at De Beers in 2001 as a process engineer. At De Beers, the world's largest producer and distributor of diamonds, a subsidiary of Anglo American Plc, she worked on process improvement and plant design projects, quickly progressing through various roles within production management.
Her leadership journey took a significant leap in 2007 when Zikalala became the first female General Manager at De Beers Group, overseeing Kimberley Mines. From there, she continued to rise through the ranks, becoming the General Manager of Voorspoed Mine in 2010. By 2017, she was promoted to Deputy CEO of De Beers Consolidated Mines, and in April 2019, she was appointed Managing Director of De Beers Group Managed Operations, where she took on responsibility for operations in both South Africa and Canada.
Mpumi Zikalala leads Kumba Iron Ore to record profits
Zikalala’s appointment as CEO of Kumba Iron Ore marked the start of a transformative era for the company, with her visionary leadership solidifying Kumba’s position as Africa’s largest iron ore producer. Under her direction, Kumba has experienced substantial growth, with exceptional financial success that has benefited its shareholders, including Anglo American, which holds a 70 percent stake, equivalent to 224,535,915 shares.
With Zikalala at the helm, Kumba’s strategic focus and operational resilience have elevated its global standing, driving a surge in market capitalization to R109.9 billion ($6.3 billion). This success was further demonstrated by a 51.64 percent rise in net profit, which grew from R19.66 billion ($1.1 billion) in 2022 to R29.81 billion ($1.66 billion) by the fiscal year ending February 20, 2024.
Additionally, the group’s total assets saw a remarkable increase, growing from R43.03 billion ($2.42 billion) to R93.21 billion ($5.21 billion), a testament to Zikalala’s strategic acumen and commitment to operational resilience.
Diversity drives Zikalala’s leadership impact
In 2023, Zikalala’s compensation package of R26.6 million ($1.49 million) reflected her pivotal role in Kumba Iron Ore’s success. Her ownership of 12,500 shares, valued at R4.23 million ($0.236 million), further aligns her with the company’s mission.
Beyond her corporate achievements, Zikalala is a strong advocate for diversity and inclusivity in corporate South Africa. As Chairperson of Sishen Iron Ore Company (Pty) Ltd, she uses her platform to promote gender equity and expand opportunities for women in mining and leadership roles.
Before joining Kumba, Zikalala served as a non-executive director for the Black Management Forum and Mintek. She also chairs the Ponahalo Equal Allocation Trust and serves as a trustee at the University of Johannesburg Trust. Her recognition as one of the 2018 Top 100 Global Inspirational Women in Mining further underscores her transformative impact on the industry.
