North West Business 2023-24

OVERVIEW
Mining
Impala Platinum has gained control of Royal Bafokeng Platinum.
SECTOR INSIGHT
Harmony Gold and
Sedibelo Pilanesberg
Platinum are investing.
The Mining & Technical Exhibition (MTE) is a popular event and was held
on consecutive days in Mooinooi and Rustenburg in 2022. Amandelbult
and Zondereinde are other venues on the exhibition roster.
A
sale that has been in the works since 2021 was finally
resolved in June 2023 when Northam Platinum agreed
to sell its stake in Royal Bafokeng Platinum (RBPlat) to
Impala Platinum (Implats).
That sale took Implats’ holding in RBPlat to 91% after it had
bought 9.26% of the company from Public Investment Corporation
(PIC) earlier in the year to give it a majority holding. The RBPlat
platinum group metals (PGM) facility, which lies directly south of Sun
City, is adjacent to Implats Rustenburg’s land. The Impala Rustenburg
operation comprises a nine-shaft mining complex and concentrating
and smelting plants.
Implats CEO Nico Muller was quoted in the Financial Mail as
saying that the RBPlat acquisition would effectively extend the lifeof-mine
of the combined Rustenburg operations by “at least 10 years”.
In a press release announcing the IDC transaction, Muller said:
“Securing control of RBPlat solidifies a stronger, more sustainable
future for the Rustenburg region, the North West province and
the South African PGM sector – collectively a major employer in
the mining sector and a key driver of economic activity for the
country. It will contribute to job security for more than 42 000
Impala Rustenburg employees
and contractors, and stability
for the more than 495 000
people who depend on its
mining activities and social
contributions. With more
years of continuous operation
at scale, the intensity of
benefits will continue for
longer, delivering tangible
socioeconomic benefits for the
region and its communities.”
Pilanesberg Platinum
Mines has been active 80km
north-west of Rustenburg
since 2009. Mining operations
are conducted by contractors
while PPM manages the
concentrator (screen, crush,
mill, float, thicken and dry). The
operation has annually achieved
an average of about 150 000
ounces of PGM concentrate.
PGM miner Sibanye Stillwater
will spend a further R3.9-billion
on an expansion project at its
Marikana mine, after previous
owner Lonmin spent more than
R4-billion on it. The aim is to be
producing 250 000oz per year of
platinum, gold, palladium and
rhodium in 2028.
It is not only PGMs that are
sparking interest in expanded
operations. In his annual State
of the Province Address, Premier
Kaobitsa Bushy Maape made
NORTH WEST BUSINESS 2023/24
16
PHOTO: RS Group