Durban-born mining executive Nompumelelo Zikalala’s pay hits $2.1 million in 2025

Durban-born mining executive Nompumelelo Zikalala received a major pay increase in 2025 as her total remuneration climbed about 15 percent to $2.1 million, reflecting the financial gains recorded at Kumba Iron Ore Limited, the Johannesburg-based iron ore producer with a market capitalization of more than $6.4 billion. Since taking the top job on January 1, 2022, she has guided the company through a period defined by disciplined execution and shifting global market conditions, a stretch that has now translated into higher performance-linked rewards.

Figures contained in the company’s annual report published in February show that Zikalala’s total remuneration rose to R34.67 million ($2.12 million) in 2025 from R30.12 million ($1.84 million) a year earlier. The increase reflected higher bonuses, stronger long-term incentive payouts, and a rise in guaranteed pay, according to the company’s latest remuneration disclosure. Performance-based elements formed the largest part of the gain, underscoring how her compensation is tied to results delivered over the period.

Pay rises on salary, incentives

Her guaranteed pay and benefits increased to R10.68 million ($655,100) in 2025, compared with R10.173 million ($623,800) in 2024. This included a base salary of R9.403 million ($576,600) and benefits of R1.28 million ($78,500), up from a base salary of R8.96 million ($550,000) and benefits totaling R1.22 million ($75,000). Additional payments rose to R980,000 ($60,100). Her cash bonus accrued for the year climbed to R9.96 million ($610,000), compared with R8.408 million ($516,000) paid in March 2025 for the prior year.

Long-term incentive compensation also moved higher, reaching R13.043 million ($800,000) in 2025 from R10.911 million ($670,000) in 2024. The total included deferred bonus arrangement payouts of R9.96 million ($610,700) and long-term incentive plan awards of R3.083 million ($190,000). The rise in these components accounted for a significant share of the overall increase in her pay package, reflecting the company’s remuneration framework, which links executive rewards to sustained value creation.

Nompumelelo Zikalala leads growth and impact

Beyond her compensation, Zikalala holds 48,062 shares in Kumba Iron Ore worth nearly $1 million, aligning her financial interests with the company she has led through a period marked by steady operational delivery and consistent financial performance. The double-digit rise in Zikalala’s remuneration is tied to Kumba Iron Ore’s financial performance during the year. The company reported adjusted EBITDA growth of 14 percent to R31.9 billion ($1.95 billion), lifting its EBITDA margin to 46 percent from 41 percent. The improvement came despite uncertainty in global trade and reflected stable pricing and disciplined cost management.

Kumba achieved an average realized price of $95 per wet metric tonne, 12 percent above the benchmark FOB export price of $85 per wet metric tonne. High-quality products generated an Fe premium of $3 per tonne, a lump premium of $6 per tonne and a positive timing effect of $1 per tonne. Revenue rose 2 percent to R70.1 billion ($4.3 billion), while operating expenses declined 2 percent to R45.2 billion ($2.76 billion) from R46.1 billion. It ended the period with a net cash position of R14.9 billion ($910 million), maintaining a solid balance sheet.

Under Nompumelelo Zikalala’s leadership, Kumba Iron Ore has continued to retain its position as the fifth-largest iron-ore producer globally and the largest in Africa. The company reported R58 billion ($3.54 billion) in economic contribution, including R19 billion ($1.16 billion) directed to BEE suppliers and R3.5 billion ($214.1 million) benefiting local host community suppliers. It also paid R7.4 billion ($452.6 million) in income taxes and mineral royalties, supporting infrastructure, education and healthcare initiatives across South Africa.