Royal Bafokeng Platinum Limited (JSE:RBP)
Royal Bafokeng Platinum Limited (JSE:RBP) is a mid-tier platinum group metals (PGM) producer originating from a joint venture between Anglo American Platinum (JSE:AMS) and Royal Bafokeng Holdings known as the Bafokeng Rasimone Platinum Mine Joint Venture (BRPM JV).
BRPM produced its first platinum concentrate which it sold to Anglo American Platinum (Amplats) for beneficiation in its refineries in December 1999.
Ten years later RBPlat, through a restructuring, obtained a 67% majority interest in the JV and took over operational control in January 2010. In November of the same year RBPlat listed on the JSE.
In July 2018 RBPlat announced that it had entered into an agreement with Amplats, in terms of which it will acquire the balance of the 33% interest in the BRPM JV from Amplats in a two-phased transaction. Phase 1 of the transaction, which is the acquisition of Amplats participation interest in the BRPM JV, was completed in December 2018. Phase II of the transaction, in terms of which RBPlat will acquire full title in respect of Amplats 33% undivided interest in the mining rights attributable to the BRPM JV, was approved by the Department of Mineral Resources in terms of section 11 of the Mineral and Petroleum Resources Development Act in July 2019.
RBPlat mines Platinum Group Metals in the Merensky and UG2 reefs on the Boschkoppie, Styldrift and Frischgewaagd farms in the Rustenburg area which have been identified as hosting the last undeveloped Merensky reef on the Western limb of the Bushveld complex. RBPlat’s assets are the only know significant shallow high grade Merensky resources and reserves still available for mining in South Africa.
The company's operations consist of Bafokeng Rasimone Platinum Mine (which consists of a North and South shaft), Styldrift, the BRPM Concentrator complex and the Maseve concentrator plant. It has also completed a pre-feasibility study on our Styldrift II exploration project to the east of Styldrift.