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 BRPM Phase III 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.

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
RBPlat has reported that the total mining scope of the project has been completed, with only construction activities related to services, conveyor belts and associated bulkheads on 14 and 15 levels remaining.

A technical planning review of the Phase III extraction schedule has indicated that these levels will be required to come online during only the second quarter of 2019 and represents an opportunity to defer capital expenditure to 2018 without any negative impact on its extraction strategy.

Capital expenditure for the six months to June 30, 2017, amounted to R10-million resulting in total project expenditure to date of R1.046-million.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
The project remains below budget and on schedule.

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