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South Africa
Waterberg Project

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 Location:
85 km N from Mokopane, South Africa

  Project Contacts:
1st Floor, Unit 1 Rosebank Terrace 25 Sturdee Avenue Rosebank
Johannesburg
South Africa
2196
Phone  ...  Subscription required
Fax+27 (11) 447-1000
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Platinum
  • Palladium
  • Rhodium
  • Gold
  • Copper
  • Nickel
Mining Method
  • Sub-level stoping
  • Longhole stoping
  • Transverse stoping
  • Longitudinal stoping
  • Paste backfill
Mine Life45 years (as of Jan 1, 2019)
The Platinum Group Metals's key business objective is to advance the Waterberg Project to a development and construction decision.

The Company continues to work on advancing project permitting, infrastructure servitudes and community relationships.


Owners

Source:
CompanyInterestOwnership
Hanwa Co. Ltd. 9.755 % Indirect
Japan Oil, Gas and Metals National Corp. (JOGMEC) 12.195 % Indirect
Impala Platinum Holdings Ltd. 15 % Indirect
Mnombo Wethu Consultants Pty Ltd. 26 % Indirect
Platinum Group Metals Ltd. (operator) 50.02 % Indirect
Ownership Tree
Platinum Group Metals Ltd. is the operator of the Waterberg Project, which is owned indirectly by Platinum Group (37.05%), Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo") (26.0%), Impala Platinum Holdings Ltd. (15%), JOGMEC (12.195%), and Hanwa (9.755%) through Waterberg JV Co. As a result of its equity interest in Mnombo, the Company has an aggregate 50.02% indirect interest in the Waterberg Project.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Intrusion related
  • Magmatic


Summary:

The mineralised layers of the Waterberg Project:
• The mineralisation is hosted by sulphides that are apparently magmatic in origin.
• The mineralised layers can be relatively thick, often greater than 10 m.

PGM mineralisation within the Bushveld package underlying the Waterberg Project is hosted in two main layers: T Zone and F Zone.

The T Zone occurs within the Main Zone just beneath the contact of the overlaying Upper Zone. Although the T Zone consists of numerous mineralised layers, three potential economical layers were identified: TZ, T1, and T0. They are composed mainly of anorthosite, pegmatoidal gabbros, pyroxenite, troctolite, harzburgite, gabbronorite, and norite.

The F Zone is hosted in a cyclic unit of olivine rich lithologies towards the base of the Main Zone towards the bottom of the Bushveld Complex. This zone consists of alternating units of harzburgite, troctolite, and pyroxenites. The F Zone is divided into the FH and FP layers. The FH layer has significantly higher volumes of olivine in contrast with the lower lying FP layer, which is predominately pyroxenite.

The mineralisation generally comprises sulphide blebs, net-textured to interstitial sulphides and disseminated sulphides within gabbronorite and norite, pyroxenite, and harzburgite.

Within the F Zone, basement topography may have played a role in the formation of higher grade and thicknesses where embayments or large-scale changes in ........


Mining Methods

  • Sub-level stoping
  • Longhole stoping
  • Transverse stoping
  • Longitudinal stoping
  • Paste backfill


Summary:

The Waterberg Project will be an underground mining operation accessed via declines from surface. The mine design is based on using the sublevel longhole stoping mining method (Longhole) to extract M&I Mineral Resources contained in the T Zone and F Zone and backfilling the mined voids with paste backfill. Longhole is a highly mechanised, high productivity, and low-cost bulk mining method that uses equipment and processes widely used in the global mining industry.

The Waterberg Project mineralised zones have an overall strike length of approximately 8.8 km extending from the T Zone in the southwest to the F-North Zone in the northeast. Considering the extensive strike length and relative proximity and separation of the zones, the operation was divided into the following three mining complexes:

• The South Complex that includes T Zone and F-South;
• The Central Complex that includes F-Central;
• The North Complex that includes F-North, F-Boundary North, and F-Boundary South.

The vertical distance between mining blocks will be 100 m. Individual longitudinal and transverse stopes will be limited to a maximum vertical height of 40 m. The maximum longitudinal stope strike length will be 20 m, while the stope width for transverse stopes will be 20 m along strike. In thicker parts of the ore, there will be a need to limit the maximum stable length of transverse stopes to 40m.

Due to the relatively shallow depth at the top elevati ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. Annual
4E (Pt, Pd, Rh, Au) Concentrate kt 155
4E (Pt, Pd, Rh, Au) Metal in concentrate koz 420
Copper-Nickel Metal in concentrate M lbs  ......  Subscription required

Operational Metrics:

Metrics
Ore tonnes mined, LOM 187,507 kt *
Annual processing capacity 4,800,000 t *
Annual ore mining rate 4.8 Mt *
* According to 2019 study.

Reserves at September 4, 2019:
A stope cut-off grade of 2.5 g/t 4E was used for mining planning for the mineral reserves estimate.

Mineral Resource estimates were compiled based on cut-off grade of 2.5 g/t 4E.

CategoryTonnage CommodityGradeContained Metal
Proven 48,282,938 t Platinum 0.93 g/t
Proven 48,282,938 t Palladium 2.1 g/t
Proven 48,282,938 t Rhodium 0.05 g/t
Proven 48,282,938 t Gold 0.2 g/t
Proven 48,282,938 t 4E (Pt, Pd, Rh, Au) 3.28 g/t 158,387 kg
Proven 48,282,938 t Copper 0.09 %
Proven 48,282,938 t Nickel 0.19 %
Probable 139,224,118 t Platinum 0.94 g/t
Probable 139,224,118 t Palladium 2 g/t
Probable 139,224,118 t Rhodium 0.05 g/t
Probable 139,224,118 t Gold 0.21 g/t
Probable 139,224,118 t 4E (Pt, Pd, Rh, Au) 3.22 g/t 447,564 kg
Probable 139,224,118 t Copper 0.09 %
Probable 139,224,118 t Nickel 0.18 %
Proven & Probable 187,507,056 t Platinum 0.94 g/t
Proven & Probable 187,507,056 t Palladium 2.04 g/t
Proven & Probable 187,507,056 t Rhodium 2.04 g/t
Proven & Probable 187,507,056 t Gold 0.21 g/t
Proven & Probable 187,507,056 t 4E (Pt, Pd, Rh, Au) 3.24 g/t 605,951 kg
Proven & Probable 187,507,056 t Copper 0.09 %
Proven & Probable 187,507,056 t Nickel 0.18 %
Measured & Indicated 242,437,860 t Platinum 0.98 g/t
Measured & Indicated 242,437,860 t Palladium 2.13 g/t
Measured & Indicated 242,437,860 t Rhodium 0.05 g/t
Measured & Indicated 242,437,860 t Gold 0.22 g/t
Measured & Indicated 242,437,860 t 4E (Pt, Pd, Rh, Au) 3.38 g/t 819,549 kg
Measured & Indicated 242,437,860 t Copper 0.1 %
Measured & Indicated 242,437,860 t Nickel 0.18 %
Inferred 66,666,549 t Platinum 0.96 g/t
Inferred 66,666,549 t Palladium 1.92 g/t
Inferred 66,666,549 t Rhodium 0.04 g/t
Inferred 66,666,549 t Gold 0.34 g/t
Inferred 66,666,549 t 4E (Pt, Pd, Rh, Au) 3.27 g/t 217,968 kg
Inferred 66,666,549 t Copper 0.11 %
Inferred 66,666,549 t Nickel 0.15 %

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) 4E (Pt, Pd, Rh, Au) USD  ......  Subscription required&nbs
Site cash costs (produced) 4E (Pt, Pd, Rh, Au) USD  ......  Subscription required&nbs
Total cash costs 4E (Pt, Pd, Rh, Au) USD  ......  Subscription required *†
All-in sustaining costs (AISC) 4E (Pt, Pd, Rh, Au) USD  ......  Subscription required *†
All-in costs 4E (Pt, Pd, Rh, Au) USD  ......  Subscription required *†
Assumed price 4E (Pt, Pd, Rh, Au) 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 2019 study / presentation.
† Net of By-Product.

Operating Costs:

Units2019
UG mining costs ($/t milled) USD 23 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
Total OpEx $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M ZAR  ......  Subscription required
After-tax NPV @ 0% $M ZAR  ......  Subscription required
After-tax NPV @ 10% $M ZAR  ......  Subscription required
After-tax NPV @ 8% $M ZAR  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
TypeMaterialDiameterLengthDescription


Proposed Heavy Mobile Equipment as of October 4, 2019:
HME TypeSizeQuantity
Cable bolter ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 4, 2019
....................... Subscription required ....................... Subscription required Subscription required Sep 4, 2019
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Dec 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Dec 1, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Annual Result 2022
Integrated Report 2022
Sustainability Report 2022
Year-end Mineral Reserves 2022
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Technical Report 2018
Pre-Feasibility Study Report 2016
Other 2014
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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