Anglo American Platinum Limited |
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Marikana Platinum Mine
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MARIKANA PLATINUM MINE (non-managed - 50% owned) |
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MINE OVERVIEW
Marikana Platinum Mine is a 50:50 pooling-and-sharing agreement (PSA 2) between Aquarius Platinum (South Africa) (AQPSA) and Rustenburg Platinum Mines Limited (RPML). The mine is managed by AQPSA and is situated in the province of North West of South Africa, approximately 12 kilometres outside the town of Rustenburg. It forms part of the South-western Limb of the Bushveld Complex and operates under a mining right covering a total area of 33 square kilometres.
Current mine infrastructure consists of two operating decline shafts, namely 4 and 5 shafts and a concentrator. Shafts 1 and 2 are on care and maintenance, and 6 shaft is not in production. The open pit was mined out and closed during the year. Marikana is a partially mechanised mine with hand-held drilling and bolting. It mines the UG2 horizon exclusively. Mining is between surface and 450 m below surface. The mining method is bord and pillar.
Marikana Platinum Mine's life-of-mine (LoM) extends to 2018. The current LoM plan consists of a Mineral Resource (exclusive of Ore Reserves) of 1.7 million 4E ounces and an Ore Reserve of 2.8 million 4E ounces.
TRANSACTION
- During the last eight years, there have been 3 million fatality-free shifts and no lost-time injuries at the concentrator plant.
- Mining of the Siphumelele 3 shaft commenced in October 2011.
OPERATIONAL REVIEW
There were no fatalities in 2011. Following a rockfall accident in 2010, a new hanging wall support system and methodology was completed in 2011. The lost-time injury-frequency rate showed a significant improvement, from 0.67 m in 2010 to 0.27 in 2011.
Equivalent refined platinum ounces attributable to Anglo American Platinum Limited (Anglo American Platinum), which included 23.8 koz purchased from the joint-venture partner, decreased by 10% to 47.0 koz in 2011, compared with 52.6 koz in 2010. Sales to Impala Refining Services in terms of the Marikana offtake agreement amounted to 13.4 koz in 2011 (22.5 koz ounces in 2010). The average 4E built-up head grade was 3.06 g/t.
Anglo American Platinum' share of on-mine costs decreased marginally, to R473 million. Cash on-mine cost (including concentrator) per tonne milled increased by 23% to R736. Cash operating cost per equivalent refined platinum ounce increased by 20% to R16,384. Similar to the situation at Kroondal Platinum Mine, the current mining contract has a high fixed-cost element resulting in increased unit costs when production decreases.
CAPITAL EXPENDITURE
The Company's attributable share of capital expenditure for the year was R70 million, compared with R80 million in 2010.
OUTLOOK
The production of equivalent refined platinum ounces is expected to remain flat.
