RBPlat proceeds with R1.3bn capex plan

[miningmx.com] — ROYAL Bafokeng Platinum (RBPlat) said on Monday it has approved an expansion project for the group’s North Shaft Merensky Phase III
project at the Bafokeng Rasimone Platinum Mine (BRPM) in Rustenburg.

“The BRPM North Shaft Merensky Phase III project will significantly extend Merensky production levels at the North Shaft, giving access to 1.41 million Merensky 4E ounces,” the group stated.

The R1.272bn project will span over a period of approximately seven years and is scheduled to conclude in the third quarter of 2017.

The proportional share of capital required from RBPlat for the project amounts to R852.50m over the project period and will be funded internally from cash generated by operations.