Projects

K4 is a large, long-life, high-grade Merensky and UG2 proposition situated on the western limb of the Bushveld Complex, in South Africa’s North West Province. It is a partially completed project with an equipped main production shaft and ventilation shaft, some underground infrastructure installed and underground workings developed far enough to reach the reef. The project was abandoned in 2017 owing to the financial stress of the previous owner, Lonmin. Sibanye-Stillwater’s Board approved the capital growth project in early 2021, allocating R3.9 billion to complete the mine’s vertical shaft infrastructure. Work at K4 will start in 2021 with maintenance and preparation of underground areas, leading to first production in 2022. K4 is expected to have a 50-year life of mine producing some 11.5 million 4E ounces.

Klipfontein is a shallow open-cast project that will mine the UG2 reef at a depth of approximately 45m. The project will be operated as 50/50 joint venture with Anglo American Platinum as part of the current pooling and sharing area (PSA). The Klipfontein UG2 opencast feasibility study was completed in June 2020. The Mineral Resource of the Klipfontein UG2 opencast has approximately 0.16Moz and 1.3Mt of ore at an average grade of 3.4g/t (4E) within the project area.

The proposed Klipfontein opencast pit has a strike length of 2km and will extend to a maximum depth of about 40m. A roll-over mining methodology will be applied, with an average stripping ratio of 11.28. Production of 50ktpm of RoM ore is targeted for a total production of 300koz 4E PGM per annum for three years. Rehabilitation will be completed by the mining contractor at the end of the three-year mine life.

The opencast Mineral Reserve will be treated through the existing PSA infrastructure and the metals will be sold through the existing Kroondal offtake agreement.

The Zondernaam project is an early stage exploration project situated along the northern part of the eastern limb of the Bushveld Complex, about 35km east of Lebowakgomo, Limpopo province , which is a joint venture between Sibanye-Stillwater (74%) and Bakgaga Mining (26%), comprises seven contiguous farms to the north of the Phosiri dome and to the west of the Bokoni platinum operation.

Due to the depth of the mineralisation (in excess of 1,500m), the project is not currently being considered for advancement or development. To date, seven exploration holes have been drilled and confirm the presence of both the UG2 and Merensky Reefs. However, the exceptional grades encountered on the UG2 (6.4 g/t), over widths of between 0.8m and 1.65m support the reasonable prospect for eventual economic extraction.

Blue Ridge is a 50:50 joint venture with Imbani Platinum acquired in the 2016 all-share offer for Aquarius Platinum. It is situated approximately 30km southeast of Groblersdal on the eastern limb of the Bushveld Complex. With mining operations under care and maintenance since 2011, studies into the feasibility of re-opening the operation are underway and due to be finalised in 2020.

Akanani, acquired as part of the Lonmin transaction, is an advanced stage exploration project located on the northern limb of the Bushveld Complex, 30km northeast of the town of Mokopane. Extensive exploration drilling, targeting the Platreef, has been conducted on the property and a world class Mineral Resource has been delineated, immediately down-dip and towards the west of the Mogalakwena mine, owned by Anglo American Platinum. The viable Mineral Resource offers the potential for a long-life, low-cost operation. The wide orebody would enable a fully mechanised, long-hole, open-stope mining operation.

Through the 2016 Aquarius Platinum acquisition, Sibanye-Stillwater holds a 74% stake in the Hoedspruit project located near the town of Rustenburg. The Hoedspruit project is located near the town of Rustenburg in the North West province of South Africa. The property comprises an area of approximately 578.6ha situated adjacent and contiguous to Sibanye-Stillwater’s Rustenburg Platinum Mine’s (SRPM) Siphumulele 1 Shaft to the west along strike and Siphumelele 2 Shaft to the south and up-dip.

The Limpopo project, in which Sibnaye-Stillwater has an effective 95.3% interest, is located on the northern section of the eastern limb of the Bushveld Complex in the Limpopo province. The larger project area consists of three contiguous mineral title areas, namely Voorpseod, Dwaalkop and Doornvlei. The are centred around the Baobab mining operation, located on the Vooersped mining right, which is currently under care and maintenance.

Since the take-over of the Limpopo project from Lonmin in June 2019, the Group has initiated a strategic review process, which included the revision and updating of the 2017 feasibility study, to assess an optimal development timeframe for these assets. Due to the steep dip of the UG2 and Merensky Reefs, the project remains an attractive mechanisation option, which fits well with Sibanye-Stillwater’s strategic goals.