Kapstevel South project, South Africa
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, it contributes significantly to sustaining production of about 13-million tonnes for the remainder of the mine’s life.
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
Pit establishment and waste stripping will start this year, with first ore expected in 2024.
Latest Developments
Kumba Iron Ore announced the approval of the project on July 28, 2020.
Key Contracts, Suppliers and Consultants
None state.
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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