A brief profile

ROYAL BAFOKENG PLATINUM (RBPLAT) IS A 52% BLACK-OWNED AND CONTROLLED, MID-TIER PLATINUM GROUP METALS (PGMS) PRODUCER ORIGINATING FROM A JOINT VENTURE BETWEEN ANGLO AMERICAN PLATINUM AND ROYAL BAFOKENG HOLDINGS (RBH) KNOWN AS THE BAFOKENG RASIMONE PLATINUM MINE JOINT VENTURE (BRPM JV)

BRPM produced its first platinum concentrate which it sold to Anglo American Platinum (Amplats) for beneficiation in its refineries in December 1999.

Ten years later RBPlat, through a restructuring, obtained a 67% majority interest in the JV and took over operational control in January 2010. In November of the same year RBPlat listed on the JSE.

RBPlat mines Platinum Group Metals in the Merensky and UG2 reefs on the Boschkoppie, Styldrift and Frischgewaagd farms in the Rustenburg area which have been identified as hosting the last undeveloped Merensky reef on the Western limb of the Bushveld complex. RBPlat’s assets are the only know significant shallow high grade Merensky resources and reserves still available for mining in South Africa.

Our operations consist of Bafokeng Rasimone Platinum Mine (which consists of a North and South shaft), the Styldrift I project, the BRPM Concentrator complex and the Maseve concentrator plant. We have also completed a pre-feasibility on our Styldrift II exploration project to the east of our current Styldrift I project.

A long proud history

Royal Bafokeng Nation (RBN) purchases land

Platinum discovered in Bushveld Complex, world's largest PGM deposit

Discussions between RBN and Amplats to form JV

Site establishment

Start of Merensky opencast mining in January and underground mining started in December 1998

50/50 JV with Amplats at BRPM - BRPM JV

BRPM JV restructuring: RBPlat obtains 67% interest

  • January: RBPlat assumed operational control of the BRPM JV (67/33)
  • November: RBPlat first community owned business to list on the JSE
  • Pre-sinking process for the Main and Service shafts at Styldrift I
  • Started the Phase II replacement project at BRPM which was completed in September 2011
  • Access to UG2 ore established to improve overall operational flexibility

2012

  • Styldrift I Merensky reef intersected at 600m level
  • BRPM immediately stopable reserves face length increased to 5 710 metres (25% improvement year-on-year) 

2013

  • Ore processing strategy revised in response to weak PGM demand, soft prices and the escalation of industry operating costs

2014

  • North shaft chairlift project, which provides safer transportation into the mine was completed within budget
  • Results of the Styldrift II pre-feasibility study indicates a positive business case

2015

  • Styldrift I Main shaft commissioned by mid year
  • The continued depressed state of the PGM market results in RBPlat Board limiting construction activities at Styldrift I
  • Styldrift II feasibility study deferred
  • Deferral of capex in response to current market conditions

2016

  • Advanced Styldrift I project to an on-reef production rate of 50ktpm
  • Increased the BRPM concentrator capacity to 250ktpm
  • Committed to the next phase of expansion at Styldrift I which will ramp-up the mine to 150ktpm

2017

  • Successful placement of R1.2 billion convertible bonds and secured R2 billion in debt facilities

2018

  • Successful acquisition of the Maseve concentrator plant