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Royal Bafokeng plans to list on JSE

RBPlat’s Bafokeng
Rasimone platinum mine
Johannesburg, South Africa — MININGREVIEW.COM — 21 September 2010 – ROYAL Bafokeng Platinum (RBPlat) has unveiled its plans to list on the Johannesburg Stock Exchange in the last quarter of 2010, and expressed the opinion that conditions were encouraging for going public.

Miningmx reports that the mid-tier, black-controlled platinum group metal (PGM) producer has set its sights on listing on the JSE’s main board, and that it comes with its operations in the Bushveld Igneous Complex in the North West Province “’ the largest source of PGMs in the world.

“The investment case for RBPlat is compelling,” said RBPlat CEO Steve Phiri. “RBPlat has an experienced and focused board and management team in place, is well funded, and is positioned to grow organically and through consolidation opportunities as they arise,” he pointed out.

The company holds a 67% interest in the Bafokeng Rasimone platinum mine (BRPM) “’ a joint venture between RBPlat’s wholly-owned subsidiary, Royal Bafokeng Resources and Rustenburg Platinum Mines Limited, owned by Anglo Platinum.

BRPM produces 270 000 PGM ounces per year in concentrate, and has an established 73 million ounce resource. These provide the company with strong margins through a high-grade ore and a low cost curve position, the firm says.

“RBPlat intends optimising operations at its Boschkoppie mine and bringing the R11.8 billion Styldrift project into production by 2017,” said Phiri. “Its primary shareholders, RBH and Anglo Platinum, are committed to ensuring its success as a vehicle for sustainable wealth creation.”