Name of the Project
Eland mine complex.

Location
South-eastern portion of the western limb of the Bushveld Complex, near Brits, in South Africa’s North West province. 

Project Owner/s
Platinum group metal producer Northam Platinum Holdings. 

Project Description
Northam acquired the Eland mine from Glencore Operations South Africa in December 2017. The mine had been on care and maintenance and had significant existing infrastructure, including platinum group metals and chrome concentrators, tailings storage facilities and surface infrastructure to support underground mining. The Kukama and Nyala decline systems accessed three mining levels on the upper group two (UG2) reef and were fully equipped. 

A feasibility study to restart UG2 mining as a hybrid of conventional breast stoping with conveyor ore transport was completed in 2019, after which mine re-establishment started. The restart initially focused on decline and strike tunnel development to build mineable reserve, followed by the sequential establishment of stoping sections. 

Eland hosts a shallow, near-surface UG2 orebody. The orebody has a 160 cm seam width, more than 80% of platinum, rhodium and ruthenium content, and an average depth of 350 m. The deposit had combined mineral resources at 118.59-million tonnes grading 3.71 g/t platinum, palladium, rhodium and gold (4E) for 14.15-million ounces, and mineral reserves at 33.02-million tonnes grading 3.22 g/t 4E for 3.42-million ounces, as at December 31, 2025. 

At steady state, Eland is expected to produce 150 000 oz/y of 4E in concentrate. 

The neighbouring Maroelabult mine was acquired from Eastern Platinum Limited in 2022. Development has connected the underground workings of Kukama with Maroelabult and Nyala, improving underground services and supporting the build-up of mineable reserve. 

Potential Job Creation
At steady state, Eland is expected to provide direct, long-term employment for more than 2 500 people. 

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Capital expenditure (capex) at Eland totalled R819.5-million for the six months ended December 31, 2025, compared with R735.9-million in the prior comparable period. Capex for the 2026 financial year is stated at R1.4-billion, with most of the remaining forecast capex planned for the next 18 months. 

Planned Start/End Date
Steady-state production of 150 000 oz/y 4E in concentrate is scheduled for 2029. 

Latest Developments
Eland’s ramp-up is continuing on schedule. Underground ore production is increasing, with the number of stoping crews at 47, and expected to increase to 48 by the end of the 2026 financial year, and to 67 at steady state in the 2029 financial year. Stoping crews are averaging 9 600 m² a month. 

Development of the decline system is benefiting from the reconfiguration of the ventilation circuit, which allows for multiblast conditions and faster advance rates. This is helping derisk the mine-build programme. The focus remains on strike and raise development to increase mineable reserves. 

For the six months ended December 31, 2025, Eland produced 44 842 oz of 4E in concentrate from own operations, a 19.6% increase year-on-year. Chrome concentrate production increased by 44.7% to 167 016 t, supported by higher run-of-mine concentrator throughput, improved chromite feed grades and recovery improvements. The expansion of the chrome recovery circuit was commissioned in December 2025 and is expected to support further yield improvements. 

Spare capacity in Eland’s PGM and chrome circuits will allow for the treatment of excess UG2 ore from Zondereinde, where mining production exceeds concentrator capacity. Processing of Zondereinde feed is expected to start during the second half of the 2026 financial year. 

Northam also plans to start construction of an integrated renewable-energy project at Eland during the second half of the 2026 financial year. The project will comprise 20 MW of solar capacity and 40 MWh of battery storage. 

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Northam Platinum Holdings, tel +27 11 759 6000.
R&A Strategic Communications, on behalf of Northam Platinum, tel +27 11 880 3924 or email northam@rasc.co.za.