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South Africa

Marula Mine

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Australia

Marula Mine

Location: 90 km SE from Polokwane, South Africa

Regional Office:

2 Fricker Road
Private Bag X18 Northlands, 2116
Illovo
South Africa
2196

Contacts:

Additional Resources for Suppliers & Investors

Categories

Summary

Mine TypeUnderground
StatusActive
Commodities
  • PGM
  • Platinum
  • Palladium
  • Rhodium
  • Nickel
  • Copper
Mining Method
  • Conventional underground bulk mining
  • Breast stoping with strike pillars
Production Start... Lock
Mine Life... Lock
SnapshotThe Marula operation mining infrastructure includes two decline shafts, offices, stores, a concentrator plant, a chromite recovery plant, TSFs and overland ore conveyance.

During FY2025, production was impacted by constrained mining flexibility and two phases of labour restructuring in Q1 and Q4. Leadership changes and revised management routines have been embedded, with improved operational stability anticipated in FY2026.

The Marula Phase II project to expand and extend Marula's life-of-mine was initiated in FY2022, but in response to the lower metal prices, execution of Marula's Phase 2 project was slowed during 2024. The decision to curtail the Marula Phase 2 project will impact long-term life-of-mine.

Completed bankable feasibility studies for the construction of a 30MW solar plant at Marula.

Owners

SourceSource
CompanyInterestOwnership
Black Economic Empowerment(B-BBEE Commission) 22.7 % Indirect
Impala Platinum Holdings Ltd. 73.3 % Indirect
Marula Platinum Pty Ltd. (operator) 100 % Direct
Marula Platinum (Pty) Ltd, an existing platinum producer and a subsidiary of Impala Platinum Holdings Limited, owns and operates the Marula Platinum Mine.

Marula Platinum is 73.3% owned by Impala Platinum Holdings Ltd. The remaining 26.7% is owned by Black Economic Empowerment (22.7%) and Marula Employee Share Ownership Trust (4%), which is controlled by the Group.

Contractors

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SourceSource

Deposit type

  • Magmatic

Summary:

Both the Merensky and UG2 Reefs are present at Marula, but only the UG2 Reef is exploited.

The Merensky Reef is located about 650 m below the surface with the UG2 Reef approximately 400 m deeper than the Merensky Reef. The Merensky Reefs occurs near the top of the Upper Critical Zone in a sequence of rocks knows as the Merensky Cycle.

The Merensky and UG2 Reefs are separated by a sequence of primarily anorthositic and noritic layered units of 400m in combined vertical thickness. The UG2 Reef is defined as the main chromitite layer, with most of the mineralisation confined to this unit, followed by a poorly mineralised pegmatoidal footwall. The Merensky Reef comprises the upper portion of a pyroxenite layer, with a chromitite stringer close to the hangingwall contact. Mineralisation peaks over the chromitite stringer and decreases into the hangingwall and footwall. The average 6E ratios show the differences between the Merensky and UG2 Reefs, particularly the high proportions of palladium and rhodium associated with the UG2 Reef at Marula.

Both mineralised horizons sub-outcrop on the Marula mining rights area and dip in a west-southwest direction at 10° to 14°. The reefs are relatively undisturbed by faults and dykes, with one prominent dolerite dyke traversing the mining area. Potholes represent most of the geological losses encountered underground, while a small dunite pipe also disrupts the reef horizons. These geological features are accounted for in the Mineral Resource and Mineral Reserve estimates as geological losses.

Reserves

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Mining Methods

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Heavy Mobile Equipment

Fleet data has not been reported.

Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Water usage

Parameter2025202420232022202120202019
Fresh water 1,314 ML1,548 ML1,626 ML1,561 ML1,967 ML1,788 ML1,949 ML
Recycled water 2,164 ML2,622 ML2,536 ML2,218 ML1,504 ML1,342 ML1,260 ML
Water use efficiency 0.71 kL/t0.84 kL/t2.15 kL/t1.89 kL/t1.92 kL/t1.91 kL/t1.81 kL/t

Commodity Production

CommodityUnits20252024202320222021202020192018201720162015
6E (Pt,Pd,Rh,Au,Ir,Ru) koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 217  224  178  205  193 
Platinum koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 83 85 68 78 74
Palladium koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 85 88 69 80 76
Rhodium koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 17 18 14 16 16
Nickel t  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 270 252 213 277 253
All production numbers are expressed as metal in concentrate. ^ Guidance / Forecast.

Operational metrics

Metrics20252024202320222021202020192018201720162015
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,772 kt 1,838 kt 1,495 kt 1,703 kt 1,662 kt

Production Costs

Commodity202520242023202220212020201920182017
Cash costs 6E (Pt,Pd,Rh,Au,Ir,Ru)  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 744 / oz  USD 737 / oz  USD 835 / oz  USD
Cash costs Platinum  ....  Subscribe 1,945 / oz  USD 1,936 / oz  USD 2,184 / oz  USD
Cash costs Platinum 127 / oz **  USD 571 / oz **  USD 1,272 / oz **  USD
All-in sustaining costs (sold) Platinum 526 / oz **  USD 713 / oz **  USD
^ Guidance / Forecast.
** Net of By-Product.

Operating Costs

Currency2025202420232022202120202019201820172016
Total operating costs ($/t milled) USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Mine Financials

Units202520242023202220212020201920182017
Capital expenditures (planned) M ZAR
Sustaining costs M ZAR  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Capital expenditures M  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 11  USD 8  USD 8  USD
Revenue M  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 2,976  ZAR 2,357  ZAR 1,616  ZAR
Gross profit M  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 300  ZAR 47  ZAR -586  ZAR
Pre-tax Income M  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 276  ZAR
After-tax Income M  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 189  ZAR -30  ZAR -795  ZAR
EBITDA M  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 469  ZAR
Operating Cash Flow M  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 12, 2025
....................... Subscription required ....................... Subscription required Subscription required Oct 12, 2025

Workforce

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2025
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...... Subscription required ...... Subscription required ...... Subscription required 2012

Aerial view:

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