ROYAL Bafokeng Platinum (RBPlat) was “well positioned” to reach a steady state mining run rate of 230,000 tonnes a month at its Styldrift project by the third quarter of 2020, the company said today in an announcement.
This was after achieving a run-rate of 150,000 tonnes monthly in October. Silo 4 and associated ore handling infrastructure required to retain this volume were also commissioned, it said.
“This combined with ongoing construction progress related to establishing 230ktpm infrastructure ensures we remain well positioned to achieve our steady state milestone of 230ktpm by the third quarter of 2020,” the company said.
“Styldrift is a mechanised mine which provides access to a high grade, relatively shallow Merensky resource through a twin vertical shaft system and is a key part of the company’s organic growth strategy,” it added.
On October 22, the company adjusted the top end of its full-year platinum group metal (PGM) production for its 2018 financial year to no more than 280,000 ounces with the low end of guidance staying at 370,000 oz.
Commenting in its third quarter production update – in which the company produced 102,400 oz of PGMs (4E) – it said total milled ore would be between 3.35 million tonnes (Mt) and 3.45Mt at a 4E built-up head grade of between 3.95 grams/tonne to 4g/t.
However, operating costs would be kept at below inflation rates, it said. This was despite having to absorb above inflation wage increases, some of which was offset by cost-saving initiatives.
