VBKOM’s contract for the provision of mining risk management services to Kumba Iron Ore’s flagship Dingleton Resettlement Project, has been extended for yet another year until the end of the project in 2016.
The Dingleton Resettlement Project is a momentous R4.2billion resettlement project which aims to relocate an entire community.
The resettlement plan consists of the building of 500 houses, a new pre-primary and primary schools and new sports facilities, while improving local municipal libraries.
Kumba has committed to covering all property transfers and costs involved in the relocation, the costs covered include the difference in property taxes and rates for 25 years and all capital gains tax that private property owners may incur as a result of the resettlement.
Kumba’s iron-ore miner’s mine recovery and optimisation plan would phase in production increases – extending to the west of Sishen mine – from 30-million tonnes in 2013 to 37-million tonnes in 2016.
VBKOM was appointed as an independent, external Mining Risk Advisor to the project in March 2014, shortly after the project was given the go-ahead to move into Implementation.
As part of our contract, we will execute and manage all aspects relating to risk management, including qualitative, quantitative, schedule and financial risk management.
Furthermore, as part of our appointment we also need to report into Kumba’s Group Enterprise Risk Management and Group Audit and Compliance Committee structures.
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