Name of the Project
Mogalakwena mine – Sandsloot underground project.

Location
Limpopo, South Africa.

Project Owner/s
Valterra Platinum, formerly Anglo American Platinum.

Project Description
A prefeasibility study completed in the first half of 2025 has shown the investment case for Sandsloot as “compelling”, with Valterra reporting that its approach remains "value over volume”,  with the potential to introduce higher underground grades at between 4 g/t to 6 g/t to blend in with opencast ore. 

This is the first step towards Valterra’s achieving its targeted 10% to 50% overall increase in Mogalakwena metal in concentrate production, and a 10% to 20% reduction in all-in sustaining costs. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Medium-term capital guidance is reported at between R1.5-billion and R2.5-billion a year.

Planned Start/End Date
Valterra has started the feasibility study, with completion targeted in the first half of 2027, together with an investment decision, provided that it is in accordance with Valterra’s capital allocation framework.

Latest Developments
Valterra Platinum has made good progress with the project, where it remains on track to complete the feasibility study and reach an investment decision during the first half of 2027.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Valterra Platinum investors, Leroy Mnguni, email leroy.mnguni@valterraplatinum.com.
Valterra Platinum media, Cindy Maneveld, email cindy.maneveld@valterraplatinum.com.