Name of the Project
Thaba Joint Venture (JV) project.

Location
Northern part of the western limb of South Africa’s Bushveld Complex.

Project Owner/s
The project is an unincorporated 50:50 JV agreement between Sylvania Platinum’s wholly owned South African subsidiary Sylvania Metals, and Limberg Mining Company, a subsidiary of ChromTech Mining Company.

Project Description
The Thaba JV aims to process chrome tailings from historical dumps and run-of-mine chrome ore from the Limberg chrome mine to produce platinum group metals (PGM), and chromite concentrate, expanding Sylvania’s operations and leveraging its expertise in chrome and PGM recovery. 

The project will add attributable yearly production of about 6 500 4E (platinum, palladium, rhodium and gold) PGM ounces, and introduce 200 000 t of chromite concentrate to Sylvania’s existing production profile.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated payback of three years.

Capital Expenditure
The project is provisionally budgeted at R600-million.

Planned Start/End Date
The project execution phase is estimated at 18 to 24 months, which started in August 2023, with the first production expected in the second half of the 2025 financial year.

Latest Developments
Sylvania Platinum is looking forward to the Thaba JV’s introducing a chrome revenue stream.

Sylvania and Limberg Chrome Mine will share equally in the PGM and chromite concentrate revenue once the project comes on stream, which is expected to take place in the second half of the 2025 financial year.

Key Contracts, Suppliers and Consultants
Not disclosed.

Contact Details for Project Information
Sylvania Platinum, tel +27 11 673 1171 or email reception@sylvania.co.za/info@sylvaniaresources.com.
ChromTech Mining Company, tel +27 11 035 3950.