Platinum major Impala Platinum (Implats) is investing in the future of platinum-group metals (PGMs) by developing its deposits.

Implats owns a total attrib- utable resource of 230-million ounces of platinum located on the two most significant PGM deposits in the world, namely the Bushveld Complex, in South Africa, and the Great Dyke, in Zimbabwe.

Mining operations located on the Implats lease area, on the western limb of the Bushveld Complex, near Rustenburg, comprise 15 shafts, nine of which are coming to the end of their lives, as both the Merensky and upper group two reefs have been exploited.

Implats notes that, in the 2012 financial year, it mined about 10.7-million tons of ore from the lease area, yielding 750 100 oz of platinum.

To replace production from these declining shafts, Implats is now developing three new deep-level shafts – the No 20, No 16 and No 17 shafts – in Rustenburg. The company believes that these projects will be well timed to meet future global demand for PGMs.

The first shaft to be handed over at Implats was the No 20 shaft complex in 2012, which has subsequently started production. The No 20 shaft had a first-year output of 21 000 oz of platinum in the 2012 financial year, and in the 2013 financial year, it is expected to produce 26 000 oz of platinum.

The shaft is set to achieve full production in the 2018 financial year, which is a steady-state throughput of 125 000 oz.

The second, the No 16 shaft complex, was commissioned in June. First production at this shaft is expected to start in 2014, with an output of 15 000 oz. The build-up to full throughput of 185 000 oz of platinum will be achieved in the 2018 financial year.

The third shaft – No 17 shaft – is currently still being developed. Sinking of the No 17 shaft complex’s main and ventilation shafts is on schedule and the development to reef has started from the refrigeration shaft. First production is expected in the 2017 financial year. At full production, which is scheduled for early in the next decade, the shaft will produce about 180 000 oz of platinum a year, says Implats.

In addition, Implats is also investing in the $460-million Zimplats Phase 2 project, in Zimbabwe, which is 87%-owned by Implats and is currently the the group’s only growth project.

The Zimplats Phase 2 project, which entails the development of a new two-million-ton underground mine, an additionally sized concentrator and associated module, as well as other infrastructure, will add an 90 000 oz of platinum to the group’s yield.

This will take production at Zimplats to 270 000 oz of platinum when it reaches nameplate capacity, expected in the 2015 financial year.

The new shafts being commissioned and developed in Rustenburg will enable Implats’ Rustenburg operation to access new iron-ore reserves and maintain a stable production profile going forward.

Over the next five years, the new shafts will enable the oper- ation to increase the ratio of the Merensky reef being milled. The amount of Merensky reef being milled is forecast to increase from the current 43% of total throughput to 50%, owing to the exploitation of reserves at the new No 20 and No 16 shaft complexes.

The new large-scale infrastructure and superior grades to be mined at these shafts will also enable Implats to mine at a better overall cost than the current cost average for the Implats Rustenburg operations.

Through the successful devel- opment of these new projects, Implats will ensure that the com- pany remains in a good posi- tion to benefit from the long-term PGMs market fundamentals.