Kumba’s SIOC granted mining right for Rail Properties at Sishen mine
Kumba is pleased to announce that the Department of Mineral Resources has granted Sishen Iron Ore Company (Pty) Ltd the mining right for the Rail Properties at the Sishen mine, which right SIOC applied for in October 2013.
As the Company informed the market in a SENS announcement on 15 October 2013 these properties were previously occupied by a Transnet railway line that has been relocated as part of the Sishen Western Expansion Project to extend the pit in a south-westerly direction. As Transnet previously held the surface rights over the properties, the properties were excluded from the Sishen Mining Right area. The affected area is about 30m wide, traversing the mine area for about 14 km in a north to south direction, immediately adjacent to the west of the current Sishen pit.
The granting of the mining right gives SIOC access to the approximately 33% of the Sishen reserve included in SIOC's Life of Mine plan which is located on either side of the affected area. This portion of the reserve, which had been classified as probable, can now be reclassified as proven.
The Company will accordingly proceed with the implementation of its mining plan and will start waste stripping in the affected area from 2H14.
Norman Mbazima, Kumba CEO, commented that the efficient processing of this mining right application is evidence of a much improved relationship with the regulator, as well as the efficiency of the DMR’s processes. “This is not only positive for Kumba, but indeed for the whole South African resources industry and it illustrates that win-win solutions can be achieved through constructive engagement when people engage openly and with trust.”
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