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.

Our acquisition of Maseve provided us with immediate access to an operational concentrator plant to treat ore from Styldrift I and the strategic flexibility to extend the life-of-mine of the South shaft Merensky operations. Furthermore, it provides RBPlat with the option of early access to its Frischgewaagd ore body at Styldrift I.

The transaction was structured in two phases. In 2018 we achieved financial closure of Phase I, which related to the acquisition of immovable property and the Maseve concentrator plant. We also reached financial closure on Phase II of the transaction, which relates to the acquisition of 100% of the shares in Maseve and shareholder claims owing by Maseve. The Maseve mine is currently on care and maintenance.

We acquired the remaining 33% participating interest in the BRPM JV from RPM (a wholly owned subsidiary of Amplats). The transaction was structured in two phases. Phase I was the acquisition of Amplats’ 33% participating interest in the BRPM JV and Phase II was the acquisition of the RPM mining rights from RPM.

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.