Ikwezi Mining Limited
IKW.AX
Australian Securities Exchange0.46
AUD
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Ikwezi Mining Limited
IKW.AX
(Australian Securities Exchange)
Recent
price
0.46
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ratio
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div
yld
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ROIC.AI
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- Business
- Ikwezi Mining Limited Ikwezi Mining Limited (ASX:IKW) is a Bermuda-incorporated coal mining and development company focused on opencast and underground operations in South Africa's KwaZulu-Natal province. The company operates the Kliprand Colliery, including the Goedehoep pit extension commenced in May 2022; the Emoyeni coal beneficiation plant in Dannhauser with a capacity of approximately 2 million tonnes of run-of-mine coal per annum and a rewash circuit addition for high-value low-ash products; and utilizes the Ikwezi Ngagane rail siding near the Ngagane power station in Newcastle for logistics. It also holds a 70% interest in the broader Newcastle Project spanning 12,182 hectares, encompassing additional collieries such as Shepstone Lake (production started in 2023) and preparations for Verdriet Colliery. Core products include thermal coal, anthracite, coking coal, and metallurgical coal produced on a free-on-truck basis, with initial spot sales and efforts to secure dedicated rail and port allocations through Transnet Freight Rail. The company serves domestic and export markets, prioritizing environmental responsibility, community benefits, and safety in its operations targeting power stations, cement producers, and steel industries. Founded in 2011 and headquartered in Johannesburg, South Africa at 94 Bekker Road, Thorhill Office Park, Ikwezi Mining conducts all activities through South African subsidiaries like Ikwezi Mining (Pty) Ltd, with no disclosed parent company. Recent developments include the commissioning of the Emoyeni wash plant in late 2020 achieving steady-state production of 76,000 tons per month; operational ramp-up at Kliprand producing 94,614 tons of run-of-mine coal in June 2022; and expansion into Shepstone Lake Colliery in 2023 alongside Verdriet preparations as of 2024. The company faced delisting from the ASX on December 30, 2022, following voluntary suspension and removal requests, though it maintains ongoing mining activities and community initiatives like graduate placements. No major acquisitions, funding rounds, or partnerships were announced in 2024-2025, with focus on operational efficiencies amid South Africa's just energy transition discussions impacting coal producers.