COMMENTARY

OVERVIEW

2018 was a transformative year for RBPlat during which we delivered on our strategic objectives of pursuing value-enhancing opportunities and organic growth when we:

  • completed the acquisition of Maseve, which gave us an additional 110ktpm of concentrating capacity, which can be increased to 160ktpm-200ktpm
  • became the sole owners of our operations when we acquired the 33% participating interest Anglo American Platinum Limited (Amplats) held in the BRPM Joint Venture (BRPM JV) through its wholly owned subsidiary Rustenburg Platinum Mines Limited (RPM). The transaction was effective from 11 December 2018.
  • achieved the 150ktpm milestone at Styldrift Mine in October 2018.

While we achieved an improvement in our lost time injury frequency rate (LTIFR) and total injury frequency rate (TIFR) in 2018, the two fatal accidents we had in our operations during the year were a great disappointment. Mr Venizelos Alfeu was fatally injured on 24 July in a scraper winch-related accident at BRPM South shaft, while Mr Fallang Lenyatsa was fatally injured in a fall of ground accident on 11 September at BRPM North shaft. The Board of Directors, management as well as colleagues at RBPlat wish to extend their sincere condolences to the families and friends of Mr Alfeu and Mr Lenyatsa.

 

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