Anglo American Platinum Limited |
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Bokoni Platinum Mine
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BOKONI PLATINUM MINE (non-managed - 49% owned) |
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MINE OVERVIEW
Bokoni Platinum mine is a 51:49 joint venture between Anoraaq Resources and Rustenburg Platinum Mines Limited. The mine is situated in the Limpopo Province of South Africa, approximately 80 kilometres southeast of the town of Polokwane. It forms part of the Eastern limb of the Bushveld Complex and operates under a mining right covering a total area of 147 square kilometres.
Current mine infrastructure consists of one vertical shaft, namely Vertical Shaft, and two decline shafts, namely Brakfontein Shaft and UM2 Shaft, all on the Merensky reef. There are four adits and decline shaft at Middlepunt Hill on the UG2 reef. Vertical shaft and UM2 shaft are conventional mining operations. Brakfontein is a hybrid mining operation, with conventional stoping and trackless development with belts in the footwall. Middlepunt Hill is also a hybrid mining operation. The operating depth for the current workings is between surface and 500m below surface.
Bokoni Mine’s life-of-mine (LoM) extends to 2043. The current LoM plan consists of a Mineral Resource (exclusive of Ore Reserves) of 67.5 4E million ounces of UG2 ore and 31.5 4E million ounces of Merensky ore and an Ore Reserve of 6.6 million ounces of UG2 ore and 4.2 4E million ounces of Merensky ore.
KEY ACHIEVEMENTS
- The cash on-mine cost (including plant) per tonne milled decreased by 8% to R975 as a result of improved productivity and cost containment.
OPERATIONAL REVIEW
Regrettably, one fatality occurred at the Middlepunt Hill involving mobile equipment on 7 November 2010. The LTIFR in 2010 improved by 11%, from 1.29 in 2009 to 1.15 in 2010.
Although the mine had a number of challenges that impacted negatively on production, the equivalent refined platinum ounce production for 2010 was 3% higher than 2009, at 62.7 koz. The tonnage milled increased by 11% to 1.0 Mt. The mine’s immediately available Ore Reserves and immediately stopeable Ore Reserves are 12.9 months and 2.2 months respectively. The 4E built-up head grade decreased by 4%, from 4.32 g/t in 2009 to 4.12 g/t.
Total cash on-mine cost (including concentrator) incurred amounted to R1.018 billion in 2010, an increase of 1% from 2009. The cash on-mine cost (including plant) per tonne milled decreased by 8% to R975, while cash operating cost per equivalent refined platinum ounce (including Anglo American Platinum Limited’s allocated downstream costs) decreased by 2% to R17,450 as a result of improved productivity, which was partially offset by lower recoveries and grade.
New refrigeration plant at Anglo American Platinum Limited’s Khuseleka Mine.
CAPITAL EXPENDITURE
Capital expenditure attributable to Anglo American Platinum Limited. decreased by 48% to R116 million, and was mainly associated with the Brakfontein project and the concentrator upgrade.
PROJECTS
The mine is in the process of reviewing the life-of-mine plan against current economic conditions with a view of prioritising which projects should be considered for approval. This process will be completed in 2011 and will form part of the 2012 business planning process.
The deepening of the Brakfontein Shaft and the UG2 Middlepunt Hill Decline Shaft continues on schedule.
OUTLOOK
Anglo American Platinum Limited will continue to hold a 49% interest in Bokoni Platinum Mine and purchase 100% of the ounces it produces. Bokoni is expected to continue to ramp-up production in 2011 and will reach nameplate production during 2014.
