Volspruit platinum group metals project, South Africa – update
Photo by ©Bloomberg
Name of the Project
Volspruit platinum group metals (PGMs) project.
Location
On the southern end of the northern limb of the Bushveld Complex, about 16 km south of Mokopane, in Limpopo, South Africa.
Project Owner/s
Low-cost PGMs producer Sylvania Platinum.
Project Description
A scoping study has suggested the development of the North and South pits at a production rate of 1.8-million tonnes a year over a 14-year mine life.
About 65% of the ore is located within the North pit, with the remainder in the South.
Optimisation studies are in progress.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The scoping study estimates a pretax net present value of R1.2-billion at a 12% discount rate and an internal rate of return of 17%, with a payback of six years.
Capital Expenditure
Peak funding is estimated at R4.3-billion.
Planned Start/End Date
Not stated.
Latest Developments
Research and development is continuing to identify opportunities to upgrade the run-of-mine feedstock while the project concentrates on obtaining all necessary permitting.
Key Contracts, Suppliers and Consultants
Earthlab (scoping study 2024 – North and South body); DRA (metallurgical testwork North and South bodies); RK Consulting (scoping study 2023.
Contact Details for Project Information
Sylvania Platinum, tel +27 11 673 1171 or email info@sylvania.co.za / info@sylvaniaresources.com.
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