Mineral Asset Development and Joint Ventures

The Group owns various mineral asset development projects on the Northern Limb of the Bushveld Complex located in South Africa, for which it has approved mining rights. New targeted studies were commissioned during the 2021 financial year on both the Volspruit and Northern Limb PGM opportunities to determine how best to optimise the respective projects. Significant progress has been made towards unlocking future mineral potential on these projects to generate value for shareholders.

• AVolspruit is a shallow mining and exploration project, on the northern limb
• BThe Northern Limb Projects include four “hot spot” platinum group metal (PGM) exploration targets in close proximity to each other at the extreme north of the northern limb of the Bushveld Igneous Complex.

  Location	Limpopo Province, 80km north-west of Polokwane
  Ownership	Majority held by Sylvania Platinum
  Mining right status	Holder of mining rights
  Access	Roads connect prospecting sites to N11 national and R35 regional highways

  Northern Limb Projects Exploration Resource Statement [24.6MB]

• ★ Transformational Thaba JV will comprise of chrome beneficiation and PGM processing plants, treating a combination of ROM and historical chrome tailings from JV partner, adding a full margin chromite concentrate revenue stream to diversify the Group’s income and reliance on a single host-mine company.

  Location	Limberg Chrome Mine (LMC), located near Thabazimbi in Limpopo, South Africa
  Ownership	50:50 JV with LMC to recover chromite and PGM concentrates from run-of-mine ores and historical tailings
  Mining right status	Holder of mining rights
  Logistics	LMC has developed a cost-effective and efficient inland road and rail network catering for bulk export and local sales