Name of the Project
Volspruit platinum group metals (PGMs) project.

Location
At the southern end of the northern limb of the Bushveld Complex, about 16 km south of Mokopane, in Limpopo, South Africa. 

Project Owner/s
Sylvania Platinum Limited.

Project Description
Volspruit is an opencast PGM/copper/nickel project in a mature mining jurisdiction with existing regional infrastructure. Sylvania’s August 2024 scoping study is based on the development of the North and South orebodies and indicates a 14-year life-of-mine. 

The combined openpit mineral resource, prepared by Earthlab and reported on a 100% attributable basis, totals 28.24-million tonnes grading 2.37 g/t platinum, palladium, rhodium and gold (3E+Au), as well as 0.06% copper and 0.18% nickel, for 2.15-million ounces of 3E+Au. This comprises 16.42-million tonnes in the indicated category and 11.82-million tonnes in the inferred category. 

Optimisation studies remain focused on improving the project economics and development case. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The August 2024 scoping study estimates a pretax net present value, at a 12% discount rate, of R1.2-billion, or $69-million, and a pretax real internal rate of return of 17%. Payback is estimated at six years. 

Capital Expenditure
Peak funding is estimated at R4.3-billion, or $238.3-million. 

Planned Start/End Date
Not stated. The project remains at scoping and permitting stage.

Latest Developments
Sylvania’s current focus at Volspruit is securing the required licences and authorisations for potential future mining, including the water-use licence. 

The company has submitted an environmental-impact assessment amendment and a water-use licence application, and continues to work with the relevant authorities to have these amendments and applications granted. Local economic development projects are also gaining traction. 

Sylvania’s 2026 financial year third quarter operations report, released on April 29, 2026, does not provide a separate Volspruit update. It does, however, state that the group remains debt free and continues to fund capital expansion and optimisation projects from cash reserves while supporting growth initiatives. 

Key Contracts, Suppliers and Consultants
Earthlab prepared the February 2024 combined openpit mineral resource estimate. The existing profile also identifies SRK as the consultant for the August 2024 scoping study, DRA as responsible for metallurgical testwork on the North and South bodies, and RK Consulting as consultant for the 2023 scoping study. 

Contact Details for Project Information
Sylvania Platinum, tel +27 11 673 1171 or email info@sylvania.co.za.
BlytheRay, on behalf of Sylvania Platinum, tel +44 20 7138 3204 or email sylvania@blytheray.com.