39 / 72
IRON ORE
August 2015
MODERN MINING
37
miners and explorers reeling
Left:
The Kolomela mine
near Postmasburg in
Northern Cape Province
is Kumba’s newest mining
operation, having been
completed at the end of
2011. Kolomela is expected
to produce in excess of 11 Mt
in 2015 with waste of 35 Mt
(photo: Kumba Iron Ore).
Below:
The processing
plant of the Tonkolili mine
in Sierra Leone. The mine
was developed by African
Minerals but is now owned
by Chinese steel-maker
Shandong. There were
reports in May this year that
Shandong had re-opened
the mine but – as far as
‘Modern Mining’ is aware
– production has not yet
restarted.
says it “has undertaken a number of key inter-
ventions, which are expected to result in a
reduction in the group’s cash breakeven price
to US$45/tonne (62 % Fe CFR China) from
the US$63/tonne in 2014. These initiatives
include reducing overhead costs, reinforcing
capital discipline, reconfiguring the operations
and maintaining the focus on product quality