Aquarius Platinum’s
Kroondal mine
This means that the life of the Kroondal mine will be extended by three years from 6.5 to 9.5 years.
A statement issued here by Aquarius says that Amplats will contribute 9.91Mt at 2.38g.t of proven ore reserves and 6.06Mt at 2.48g/t of probable ore reserves to Kroondal. The reserves will be mined from existing Kroondal underground mining infrastructure and treatment plants.
In exchange, Aquarius will contribute the use of its infrastructure; continued management of the PSA on existing terms and conditions; the sale of the Aquarius share of concentrate produced from the additional reserves; and payment of a variable royalty with a base rate of R11.50 per tonne mined, the statement added.
Source: Aquarius Platinum Limited. For more information, click here.