Name of the Project
Booysendal North upper group two (UG2) mine deepening project.

Location
The project is situated about 35 km from Mashishing, straddling the border of Limpopo and Mpumalanga, in South Africa.

Client
Northam Platinum.

Project Description
The deepening of the Booysendal North UG2 mine is an expansion of the original Booysendal North mine, which came on stream in 2013 and reached steady-state production of 160 000 oz/y at the end of 2015. The project, approved in November 2015, is expected to add 30 000 oz/y of saleable 4E (platinum, palladium, rhodium and gold) product and increase yearly production to 190 000 oz. This will entail the extension of the mine by two levels (strikes 8 and 9), which will result in four new production sections, two of which will be mined.

A key component to the extension is the construction of a 5 000 t surge capacity underground silo that will connect the deeper, new section to the existing mine.

However, the silo will also decouple these two parts to ensure continuous mining during unexpected stoppages.

Jobs to be Created
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
Northam has allocated a capital spend of R270-million over three years for the deepening project.

Duration
Construction of the silo started in May and is due for completion in July 2017.

Latest Developments
Not stated.

Key Contracts and Suppliers
Not stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
North Platinum media and investor relations, René Rautenbach, tel +27 11 759 6000, fax +27 11 325 4795 or email Rene.Rautenbach@norplats.co.za.