Royal Bafokeng Platinum will list on the Johannesburg Stock Exchange (JSE) in the final quarter of 2010, it was confirmed yesterday (20th September).

The company's main interest is its Bafokeng Rasimone Platinum Mine (BRPM), in which it holds a 67 per cent stake as part of a joint venture with Anglo Platinum.

Output at the facility reached 270,000 oz pgm 4E (platinum, palladium, rhodium and gold) last year and the firm is also planning to bring its Styldrift project to production by 2017.

Chief Executive Steve Phiri revealed that the black-controlled subsidiary of Royal Bafokeng Holdings is planning to grow organically and acquisitively, describing its investment case as "compelling".

"Fundamental demand for pgms remains robust, with RBPlat presenting to the market a well-established, shallow Merensky producer on the western limb of the Bushveld Igneous Complex," he said.

"It is an empowered vehicle with an existing and an established business, and it has very attractive growth prospects."

Styldrift is reported to be a 70-million-ounce resource with a life-of-mine of 50 years - much higher than at BRPM - and potential annual output of 200,000 oz.

Royal Bafokeng Platinum has been controlling BRPM since January, when Anglo, which is the world's largest platinum producer, agreed to move to a minority stake in the site.

Sources:



Royal Bafokeng Platinum to list (20/09/10)



Empowered Royal Bafokeng platinum heads for JSE (20/09/10)

© Adfero Ltd