Assmang Ltd, which is jointly controlled by African Rainbow Minerals and Assore Ltd, has announced that the 10 million tonne per annum Khumani Iron Ore Mine has been completed on time and within budget. It also said that the ARM and Assore Board of Directors have approved additional CAPEX of ZAR 5.5 billion for the completion of the Khumani Expansion Project, to increase Khumani’s capacity from the current level of 10 million tonne per annum to 16 million tonne per annum. The estimated total CAPEX for the proposed Khumani Expansion Project is ZAR 6.7 billion based on the feasibility study completed in June 2009.
