RBP - Royal Bafokeng Platinum Limited - Approval of significant replacement
RBP
RBP
RBP - Royal Bafokeng Platinum Limited - Approval of significant replacement
capital expenditure
ROYAL BAFOKENG PLATINUM LIMITED
(formerly Royal Bafokeng Platinum (Proprietary) Limited
and formerly Lisinfo 223 (Proprietary) Limited and
formerly Lisinfo 223 Property (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
("RBPlat")
APPROVAL OF SIGNIFICANT REPLACEMENT CAPITAL EXPENDITURE
As reported in the Company`s Pre-Listing Statement dated 18 October 2010 (see
Competent Person Report) shareholders are advised that the Board of Directors of
RBPlat has approved an expansion capital project relating to the North Shaft
Merensky Phase III project on the Bafokeng Rasimone Platinum Mine (BRPM) in
Rustenburg, following the conclusion of the feasibility study.
The BRPM North Shaft Merensky Phase III project will significantly extend
Merensky production levels at the North Shaft, giving access to 1.41 million
Merensky 4E ounces.
The R1.272 billion project, which has commenced, will span over a period of
approximately 7 (seven) years and is currently scheduled to conclude in the
third quarter of 2017.
The proportional share of capital required from RBPlat for the project amounts
to R852.50 million over the project period and will be funded internally from
cash generated by operations.
Johannesburg
06 December 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 06/12/2010 17:03:02 Produced by the JSE SENS Department.
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