Kapstevel South project, South Africa – update
Name of the Project
Kapstevel South project.
Location
The project is located 22 km from Postmasburg, in the Northern Cape, in South Africa.
Project Owner/s
Kumba Iron-Ore, a subsidiary of Anglo American.
Project Description
The project entails the development of a new pit – Kapstevel South – and associated infrastructure at Kolomela.
The pit is a conventional truck-and-shovel operation producing high-quality direct shipping ore.
While the pit is included in Kolomela’s current life-of-mine (LoM), it contributes significantly to sustaining production of about 13-million tonnes for the remainder of the mine’s life.
The project will maintain Kolomela’s current LoM at 12 years.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
It is expected that the addition of the Kapstevel South pit will deliver an after-tax internal rate of return of about 25%.
Capital Expenditure
The project is estimated at R7-billion.
Planned Start/End Date
Kumba Iron Ore announced the approval of the project on July 24, 2020, for start in October 2020.
First ore is expected in 2024.
Latest Developments
The project is on track as planned.
At the end of 2020, more than two-million tonnes of waste had been stripped.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Anglo American (media), Sinah Phochana, tel +27 12 683 7019 or email Sinah.phochana@angloamerican.com.
Anglo American (investors), Penny Himlok, tel +27 12 622 8324 or email penny.himlok@angloamerican.com.
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