Overview of our operations

ROYAL BAFOKENG PLATINUM'S OPERATIONS ARE LOCATED ON THE WESTERN LIMB OF THE BUSHVELD IGNEOUS COMPLEX

The operations are approximately 30km north west of the town of Rustenburg in the North West province of South Africa and immediately south of the Pilanesberg Complex.

They are situated in the only major shallow platinum group metals (PGMs) reserves still available for mining in South Africa.

RBPlat was created from the restructuring of the BRPM JV between Royal Bafokeng Holdings (RBH) and Anglo American Platinum (Amplats). This restructuring resulted in the ownership and control of the mining operations of the joint venture vesting in the Royal Bafokeng Nation, via its subsidiary RBPlat.

In July 2018 RBPlat announced that it had entered into an agreement with Amplats, in terms of which it will acquire the balance of the 33% interest in the BRPM JV from Amplats in a two-phased transaction. Phase 1 of the transaction, which is the acquisition of Amplats participation interest in the BRPM JV, was completed in December 2018. Phase II of the transaction, in terms of which RBPlat will acquire full title in respect of Amplats 33% undivided interest in the mining rights attributable to the BRPM JV, was approved by the Department of Mineral Resources in terms of section 11 of the Mineral and Petroleum Resources Development Act in July 2019.

RBPlat announced terms for the acquisition of Maseve Investments 11 Proprietary Limited (Maseve) in 2017. The transaction was structured in two phases:

  • Phase 1 — The acquisition of the concentrator plant, related water and power allocations, surface rights in respect of the immovable property owned by Maseve which may be required by RBPlat for purposes of accessing and operating the plant and access to tailings infrastructure
  • Phase 2 — The acquisition of 100% of the shares in and shareholder claims owing by Maseve

We achieved financial closure of Phase I and phase II of the Maseve acquisition in 2018. The Maseve mine, with a resource of 4.15Mt, is currently on care and maintenance

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

RBPlat mines PGMs in the Merensky and UG2 reefs on the Boschkoppie, Styldrift and Frischgewaagd farms.

The geology of the Bushveld Complex

Geologists estimate that the Bushveld Complex, the world's largest known ultramafic igneous layered intrusion contains approximately 90% of the world's known PGMs. In addition to the PGMs, extensive deposits of iron, tin, chromium, titanium, vanadium, copper, nickel and cobalt also occur in the Complex. The Bushveld Complex extends approximately 450km east to west and 250km north to south. It underlies an area of some 65 000km2, spanning parts of the Limpopo, North West, Gauteng and Mpumalanga provinces.