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in terms of quality and quantity- it's estimated that the reserves will keep the mine going for more than 25 years at an annual extraction rate of 16 million tonnes. The R6 billion development came into production in 2006 and is now producing 10 million tonnes of ore annually. It was conceived as a greenfield development but Grobbelaar points out that, undeveloped as it was, it had the advantage of having the most important infrastructure already in place. It is close to the 860- kilometre Sishen- Saldanha railway line that runs to the port of Saldanha Bay on South Africa's West Coast, from where the iron ore is currently exported. That takes care of transportation; the other thing needed for an operation like this is a reliable water supply, which can be a problem in such regions. The Assmang: Khumani Mine September / October 09 www. bus- ex. com 25 " We have not seen any reduction in volumes whatsoever, although there has been an impact on price. I am confident that we are going to be able to continue selling our ore"

26 www. bus- ex. com September / October 09