Mining Intelligence and News
South Africa

Volspruit Project

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Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Gold
  • Platinum
  • PGM
  • Copper
  • Palladium
  • Nickel
  • Rhodium
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Volspruit project comprises two separate orebodies, the North and South.

Ongoing optimisation studies focus on upgrading ROM feed, improving PGM recovery, enhancing concentrate quality, and securing better offtake terms. Sylvania is exploring these improvements, with advancing to a Pre-Feasibility Study (PFS) dependent on the results.

The final Environmental Impact Assessment (“EIA”) Report and associated Environmental Management Programme for the amendment of the EIA was submitted at the end of Q1 FY2025. A decision from the competent authority is expected during Q3 FY2025.

Owners

SourceSource
CompanyInterestOwnership
Iolite Trading 16 (Pty) Ltd. 26 % Indirect
Sylvania Platinum Ltd. 74 % Indirect
Sylvania Platinum Ltd. holds an indirect 74% interest via its subsidiary companies in the Volspruit Mining Company, with the remaining 26% held by Iolite Trading 16 (Pty) Ltd, the Black Economic Empowerment (BEE) participants.

Contractors

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Deposit type

  • Magmatic

Summary:

The Volspruit Project is located within the southern portion of the Northern Limb just south of Mokopane and was described by Hulbert in 1983 (Hulbert, 1983). The Volspruit Reef has provisionally been classified as a disseminated, PGE-Cu-Ni, syngenetic, orthomagmatic deposit within the Lower Zone of the RLS by Hulbert (1983). The Volspruit Reef mineralisation is predominantly interstitial disseminated to net-textured sulphide assemblages hosted within olivine and chrome-bearing pyroxenites. The sulphide mineralisation within this horizon, in decreasing abundance, consists of pyrrhotite, pentlandite, chalcopyrite and cubanite (Hulbert, 1983). Sulphide assemblages reach their peak modal abundance at approximately 3 wt.% of the whole rock composition. Mineralisation is predominantly hosted by fine-grained equigranular ortho-pyroxenites with minor olivine and chrome occurrences. The region, which is dominated by horst and graben structures, has undergone at least four deformational events, summarised below: • An initial episode of north-south trending reverse faulting (age unknown). This event resulted in a Lower Zone block being displaced by approximately 800 m upwards through a set of imbricate faults into the Critical Zone. This fault system was later intruded by a granitic dyke swarm which may represent the formation of the Lebowa Granite Suite; • The exposure of the Lower Zone Blocks within the Zoetveld, Volspruit and Vaalkop farms through WNW-ESE reverse faulting. This event resulted in a step-like displacement of the RLS towards the west. The age of this event is unknown; • NE-SW striking faults resulting in slices of the Pretoria Group quartzites being thrust into the RLS. The age of these faults is believed to be post-Waterberg; and • The final faulting event is estimated to have occurred post-Karoo resulting in Karoo basalts being brought into contact with the Lower Zone lithologies along the TML. Locally, the stratigraphy of the Lower Zone has been sub-divided into three main groups, the Volspruit Pyroxenite, the Drummondlea Harzburgite Chromitite, and the Moordrift Harzburgite Pyroxenite, from the base upwards, with PGE-Cu-Ni mineralisation being hosted by the Volspruit Pyroxenite. This mineralised pyroxenite is observed in two separate bodies within the project area, the North and South bodies, which are separated by the Magoga Fault. The Lower Zone stratigraphy comprises approximately 37 cyclic units, numbered from the base upwards. The Volspruit Reef (VR) sits within the upper portion of Cyclic unit 11, consisting predominantly of orthopyroxenite and varying proportions of olivine, chrome and minor plagioclase. Although sulphide mineralisation occurs within the units surrounding the Volspruit Reef, no grade has been reported for these units. The sub-units VR1, VR2 and VR3 were observed as being the most consistently developed mineralised units and subsequently utilised to redefine the Mineral Resource. Mineralisation observed within the units is typically disseminated to net-textured with no marker lithological units being present to assist in defining reef contacts. Sulphide minerals present, in order of abundance, are pyrrhotite, pentlandite, chalcopyrite and cubanite.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

Operational metrics

Metrics
Annual ore mining rate  ....  Subscribe
Annual milling rate  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes milled, LOM  ....  Subscribe
* According to 2024 study.

Production Costs

CommodityAverage
All-in sustaining costs (AISC) 4E (Pt, Pd, Rh, Au)  ....  Subscribe
All-in sustaining costs (AISC) Platinum Equivalent  ....  Subscribe
Assumed price 4E (Pt, Pd, Rh, Au)  ....  Subscribe
* According to 2024 study / presentation.

Operating Costs

CurrencyAverage
OP mining costs ($/t mined) ZAR  ....  Subscribe
Processing costs ($/t milled) ZAR  ....  Subscribe
G&A ($/t milled) ZAR  ....  Subscribe
Total operating costs ($/t milled) ZAR  ....  Subscribe
* According to 2024 study.

Project Costs

MetricsUnitsLOM Total
Sustaining CapEx $M ZAR  ......  Subscribe
Total CapEx $M ZAR  ......  Subscribe
Processing OpEx $M ZAR 6,983
Transportation (haulage) costs $M ZAR 15
G&A costs $M ZAR 1,388
Total OpEx $M ZAR  ......  Subscribe
Mining Taxes $M ZAR  ......  Subscribe
Royalty payments $M ZAR  ......  Subscribe
Net revenue (LOM) $M ZAR  ......  Subscribe
Operating margin, %  ......  Subscribe
After-tax Cash Flow (LOM) $M ZAR  ......  Subscribe
Pre-tax NPV @ 12% $M ZAR  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 22, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 22, 2024

EmployeesContractorsTotal WorkforceYear
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Aerial view:

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