IKW floated in June 2011 and since then the price of coal has...

IKW floated in June 2011 and since then the price of coal has fallen
But the SA currency has fallen faster--so that in 2014 , the ZAR price of coal is actually higher that 2011

Also the world economy has improved since 2011--the US is clearly in a long term sustained recovery, Europe is out of recession and starting to show improvement ( UK and Ireland in particular), Japan is undergoing enormous stimulus----so the top 4 economies in the world are better off.

This will see demand pick up and maybe this mine can get going.