Africa’s largest iron ore miner, Kumba, has approved its first major project in a decade, launching a new R7bn pit at its Kolomela operation in the Northern Cape.

The Kapstevel project will keep Kolomela at 13-million tonnes of ore a year for the rest of its 13 years of life. It will come into production during 2024, with the bulk of the R7bn spent on clearing waste rock and on buying new equipment to do the work during the next three years.

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