- Royal Bafokeng Nation (RBM) purchases land
RBPlat is a black-owned and controlled mid-tier 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 is 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 (JSE: RBP).
RBPlat mines PGMs 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 significant shallow high grade Merensky resources and reserves still available for mining in South Africa.
At BRPM we access the ore reserve via two twin decline shaft complexes, North and South shafts, at a depth of less than 500 metres. Completed replacement projects extended BRPM’s North and South shaft complexes from 5 level to 10 level. Our Phase III replacement project, currently under way and due to be completed by the third quarter of 2017, will deepen BRPM’s North shaft infrastructure to the mine boundary and establish mining sections from 11 to 15 level and provide access to 1.4 million PGM 4E ounces.
At its current capacity the concentrator plant at BRPM can process 200 000 tonnes of ore per month (200 ktpm) from which it produces approximately 180 000 platinum ounces annually. The Phase I upgrade of the concentrator, which is currently under construction, will increase its capacity to 250 ktpm per month. This increased capacity will allow us to treat all the Merensky reef production from BRPM and Styldrift I. The upgrade is due to be completed in 2016.
We are developing a new mechanised underground mine, Styldrift I, which will produce 230ktpm at a depth of 758 metres which is expected to reach steady state by the first quarter 2020 depending on whether market conditions improve.