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South Africa
Bakubung Project

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 Location:
33 km NW from Rustenburg, South Africa

  Project Contacts:
Wesizwe House, Devcon Park, 9 Autumn Road, Rivonia Ext 3
Johannesburg
South Africa
2128
Phone  ...  Subscription required
Fax+27-11-994-4601
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageConstruction
Mine TypeUnderground
Commodities
  • Platinum
  • Palladium
  • Rhodium
  • Iridium
  • Ruthenium
  • Gold
  • Nickel
  • Copper
Mining Method
  • Breast mining
  • Open stoping
Production Start...
Mine Life2054
June 30, 2022 - The Bakubung Platinum Mine (BPM) continues with mine infrastructure and ore reserve development despite the numerous challenges which have occurred in the past six months reporting period.

While BPM is not yet in production, the run of mine inventory has been accumulated through mine development.

Construction of the Processing Plant continues to progress.


Owners

Source: p. 5
CompanyInterestOwnership
Wesizwe Platinum Ltd. 100 % Indirect
The mine, registered as Bakubung Minerals (Pty) Ltd, a wholly owned subsidiary of Wesizwe, has high-value PGMs and other strategic metals with long-term demand, which will enable Wesizwe to develop into a sustainable mid-tier mining house.

Contractors

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Deposit Type

  • Sedimentary


Summary:

The mine is located on the Western Limb of the Bushveld Complex immediately south of the Pilanesberg Alkaline Intrusion and is underlain by the Merensky reef and Upper Group 2 Chromitite layer. The Bushveld Complex is the largest and most economically significant layered igneous complex in the world.

The Bushveld Complex consists of a layered sequence of igneous rocks known as the Rustenburg Layered Suite which was derived from differential crystallisation of multiple magma injections.

The Rustenburg Layered Suite (mafic rocks) can be divided into five zones known as the Marginal, Lower, Critical, Main and Upper Zones from the base upwards. The mafic-rich Critical Zone hosts the multiple Chromitite and platinum group metal layers. The dominant economic platinum group metal mineralisation, the Merensky reef and Upper Group 2 Chromitite layer occur within the multi-layered norite-pyroxenite-anorthosite-chromitite Upper Critical Zone and are continuous over tens of kilometres.

Merensky reef
Four facies or types of Merensky reef were identified at the mine with their rock type composition:
The Normal Merensky reef facies consist of a thin (2cm) pegmatoidal feldspathic pyroxenite occurs. The pegmatoidal feldspathic pyroxenite becomes more harzburgitic–troctolitic (olivine/ feldspar assemblage) towards the basal Chromitite. The basal Chromitite is underlain by a poikiolitic anorthosite which is typically barren. The upper Chromitite is ov ........


Mining Methods

  • Breast mining
  • Open stoping


Summary:

The BPM consists of a single underground operation accessed through a twin vertical shafts system as well as 6m diameter raise bore ventilation shafts for ventilation purposes. Planned mining operations include the extraction of both the Merensky and Upper Group 2 (“UG2”) Chromitite layer. The main shaft has a hoisting capacity of approximately 250 kilo tonnes per month (“ktpm”) of ore and 15ktpm waste. The mining operations will be based on a semi-mechanised hybrid mining method using conventional mining methods for stoping activities and mechanised methods for development and rock-handling.

Stoping was planned using hybrid breast mining methods i.e., mechanised cleaning with hand-held conventional drilling.

The main ore body access is facilitated through a vertical shaft system that comprises:
- An 8.5m diameter lined main shaft (depth 825m) equipped with men, material and rock handling facilities
- A 7.5m diameter lined service shaft for men and material (depth 825m).
These shafts were positioned within the constraints of the mining right area to effectively access each of the two reef horizons. The main shaft can hoist up to 250ktpm of ore and up to 15ktpm of waste during steady-state production.

The ore body is accessed with four station levels out of the main and ventilation shafts, namely 69L, 72L, 77L and 81L:
69L: The first station development located at a depth of approximately 690m below surface that includes ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Nickel Metal in concentrate kt 48
Copper Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required
4E (Pt, Pd, Rh, Au) Concentrate kt  ......  Subscription required
6E (Pt,Pd,Rh,Au,Ir,Ru) Metal in concentrate koz  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Annual mining capacity  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Annual production capacity  ......  Subscription required
Annual processing capacity  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at December 31, 2021:

CategoryTonnage CommodityGradeContained Metal
Proven 7.6 Mt 4E (Pt, Pd, Rh, Au) 4.51 g/t 1.11 M oz
Probable 61.8 Mt 4E (Pt, Pd, Rh, Au) 3.56 g/t 7.07 M oz
Proven & Probable 69.4 Mt 4E (Pt, Pd, Rh, Au) 3.66 g/t 8.17 M oz
Measured 6.42 Mt 4E (Pt, Pd, Rh, Au) 6.52 g/t 1.34 M oz
Indicated 56.74 Mt 4E (Pt, Pd, Rh, Au) 4.9 g/t 8.93 M oz
Inferred 24.24 Mt 4E (Pt, Pd, Rh, Au) 4.47 g/t 3.48 M oz
Total Resource 87.4 Mt 4E (Pt, Pd, Rh, Au) 4.9 g/t 13.76 M oz

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Ruthenium USD  ......  Subscription required&nbs
Assumed price Iridium USD  ......  Subscription required&nbs
Assumed price Rhodium USD  ......  Subscription required&nbs
Assumed price Palladium USD  ......  Subscription required&nbs
Assumed price Platinum USD  ......  Subscription required&nbs
Assumed price Nickel USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2021
UG mining costs ($/t milled) ZAR 708.05 *
Processing costs ($/t milled) ZAR  ......  Subscription required
Total operating costs ($/t milled) ZAR  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Sustaining CapEx $M ZAR  ......  Subscription required
Closure costs $M ZAR  ......  Subscription required
Total CapEx $M ZAR  ......  Subscription required
UG OpEx $M ZAR  ......  Subscription required
Processing OpEx $M ZAR 15,002
Total OpEx $M ZAR  ......  Subscription required
Income Taxes $M ZAR  ......  Subscription required
Royalty payments $M ZAR  ......  Subscription required
Gross revenue (LOM) $M ZAR  ......  Subscription required
EBITDA (LOM) $M ZAR  ......  Subscription required
After-tax Cash Flow (LOM) $M ZAR  ......  Subscription required
After-tax NPV @ 10% $M ZAR  ......  Subscription required
After-tax NPV @ 9% $M ZAR  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Subscription required - Subscription is required.

Water Supply
TypeMaterialDiameterLengthDescription

The mine entered into a raw water supply agreement with Magalies Water on 19 June 2013. The agreement remains valid for the duration of the economic life of the operation. The outcome of the agreement was that Magalies Water would supply raw water to the mine, based on an estimated demand profile of approximately six megalitres per day from 2017 onwards.

A high-level water balance was developed for the BPM. According to the water balance (BPM, 2019), the total water requirement for the mine during full production is 11.8 megalitres per day. Of this, 10.2 megalitres per day will be consumed by underground operations and 1.65 megalitres per day will be consumed by surface infrastructure. Approximately 2.7 megalitres per day of make-up water is required from an external source. A water agreement with Magalies Water is currently in place for the provision of 2 190 megalitres per annum, with an estimated maximum seven-day design requirement of 52.5 megalitres. The daily provision from 2017 onwards is 6 megalitres per day. The potable water is stored in four, 3 megalitre capacity holding tanks, situated to the north of the shaft area (Mechanical Design Calculations-Water Balances, 2019).

The remaining 8.7 megalitres per day will be recovered from recycling processes in various operations from the refrigeration plant, sewerage treatment plant and underground operations. During the discussion with on-site personnel, it was stated that the sewer treatment works cannot be operated currently as the minimum treatment capacity is higher than the current sewerage load. The water balance must be updated to accommodate this change and should be calibrated with flow meter data once the TSF is operational.


Heavy Mobile Equipment as of June 1, 2021:
HME TypeSizeQuantity
Drill ....................... Subscription required
Load-Haul-Dump (LHD) 9.5 t ....................... Subscription required
Scraper 0.9 t ....................... Subscription required
Truck 36 t ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 9, 2023
....................... Subscription required ....................... Subscription required Subscription required Jan 9, 2023
....................... Subscription required ....................... Subscription required Subscription required Jun 1, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 9, 2023
....................... Subscription required ....................... Subscription required Subscription required Jan 9, 2023
....................... Subscription required ....................... Subscription required Subscription required Jun 1, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 9, 2023
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Half-year Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
Annual Report 2016
Corporate Presentation 2016
Corporate Presentation 2015
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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