Name of the Project
Bafokeng Rasimone Platinum Mine (BRPM) North Shaft Merensky Phase III project.

Location
North West, South Africa.

Project Owner/s
BRPM Joint Venture (JV), comprising Royal Bafokeng Platinum (RBPlat) and Anglo American Platinum (Amplats).

Project Description
The 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.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
R1.409-billion.

Planned Start /End Date
The total project scope will be completed during the second half of 2019.

Latest Developments
The project is currently 98.8% complete, with its entire mining scope completed and only the engineering construction scope remaining on 15 level.

Project expenditure for the year ended December 31, 2019, was R50-million, bringing such expenditure to date to R1.12-million.

The company’s cost estimate at completion remains at R1.2-billion, which will indicate a saving of about R200-million against the budget of R1 409 million.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
As at September 30, 2018,  the estimated cost at completion was forecast at R1.2-billion against a budget of R1.4-billion, indicating a potential saving of R200-million.

Contact Details for Project Information
RBPlat executive: corporate affairs Mpueleng Pooe, tel +27 10 590 4515 or email mpueleng@bafokengplatinum.co.za, or investor relations executive Lindiwe Montshiwagae, tel +27 10 590 4517 or email lindiwe@bafokengplatinum.co.za.
Amplats corporate communications, Mpumi Sithole, tel +27 11 373 6246, fax +27 11 373 5846 or email Mpumi.sithole@angloamerican.com.