Royal Bafokeng Platinum is set to boost its pgm output considerably after approving a R1.3 billion (£119.7 million) expansion of the Bafokeng Rasimone mine.

The South Africa-based facility, in which Anglo Platinum has a 33 per cent stake, will be developed as part of the North Shaft Merensky Phase III project.

Royal Bafokeng expects to contribute R853 million in financing for the move, which will ultimately ensure it has access to 1.41 million ounces of pgms.

The project is now underway and should be completed in the third quarter of 2017, according to the firm, which listed on the Johannesburg Stock Exchange last month.

In addition, Royal Bafokeng revealed that it is contemplating digging an R11.8 billion mine at Styldrift, a site located near the Rasimone operation.

The Rasimone joint venture, which produced its first concentrate from the Boschkoppie property in December 1999, aims to exploit pgm resources on the Merensky and UG2 reefs.

Source:

Royal Bafokeng Platinum Approves Rasimone Expansion (06/12/10)

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