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Bafokeng Rasimone Platinum Mine North Shaft Merensky Phase III project, South Africa

26th October 2018

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Bafokeng Rasimone Platinum Mine (BRPM) North Shaft Merensky Phase III project.

Location
North West, South Africa.

Client
BRPM Joint Venture (JV), comprising Royal Bafokeng Platinum (RBPlat) and Anglo American Platinum (Amplats).

Project Description
The project is providing further replacement for Merensky production at the North shaft complex through the extension of the existing decline system from Level 10 to Level 15 at the mine boundary.

At steady state, Phase III will maintain the production level of the North shaft at about 100 000 t/m.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
R1.409-billion.

Duration
The project started in November 2010 and is scheduled for completion in 2018.

Latest Developments
Project expenditure for the quarter ended September 30, 2018, amounted to R11.1-million bringing the total project expenditure to date to R1.1-billion.

Expenditure remains aligned with the project progress and construction schedule to complete the scope of work pertaining to the installation of services and conveyor belts on 14 and 15 levels.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
As at September 30, 2018,  the estimated cost at completion was forecast at R1.2-billion against a budget of R1.4-billion, indicating a potential saving of R200-million.

Contact Details for Project Information
RBPlat executive: corporate affairs Mpueleng Pooe, tel +27 10 590 4515 or email mpueleng@bafokengplatinum.co.za, or investor relations executive Lindiwe Montshiwagae, tel +27 10 590 4517 or email lindiwe@bafokengplatinum.co.za.
Amplats corporate communications, Mpumi Sithole, tel +27 11 373 6246, fax +27 11 373 5846 or email Mpumi.sithole@angloamerican.com.

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