[miningmx.com] – ROYAL Bafokeng Platinum (RBPlat) said it had delayed the timing of its Styldrift I project reachign steady state to the first quarter of 2020 as the depressed platinum market would prevail in the medium term.
It added that capital expenditure on Styldrift I had amounted to R5.19bn as of the end of the third quarter. Expenditure on underground infrastructure to be completed in 2016 would total R1bn.
RBPlat said on August 4 that it would slow expenditure on Styldrift in an effort to protect the company’s balance sheet amid depressed platinum prices which it said would persist for the “foreseeable future”. The project will double RBPlat’s production to 600,000 ounces of PGMs.
