Wesizwe Platinum has full ownership of the Frischgewaagd-Ledig project and a 26% interest in neighbouring Projects 1 and 3 of Maseve Investments 11 (Pty) Ltd (Maseve). The attributable resource ounces of Wesizwe Platinum are 16 441 million ounces:
| |
|
TOTAL |
WESIZWE ATTRIBUTABLE |
| |
|
Mt |
4E g/t |
4E Moz |
% |
Mt |
4E g/t |
4E Moz |
Combined resource totals for all projects |
Measured |
26,401 |
5,41 |
4,591 |
44,77 |
11,821 |
5,77 |
2,193 |
Indicated |
93,878 |
4,80 |
14,479 |
66,19 |
62,139 |
5,01 |
10,007 |
Inferred |
80,011 |
2,77 |
7,135 |
39,26 |
31,413 |
4,20 |
4,241 |
Total Resource |
200,290 |
4,07 |
26,205 |
52,61 |
105,373 |
4,85 |
16,441 |
The Frischgewaagd-Ledig Project
Wesizwe’s core project is the Frischgewaagd-Ledig Complex of the Pilanesberg Project.
It is situated directly adjacent to the western side of the Royal Bafokeng Platinum Styldrift project and immediately north of Maseve’s Project 1, owned in partnership with Canadian group Platinum Group Metals (PTM).
These properties are all located on the Western Limb of the mineral-rich Bushveld Igneous Complex in the North West province of South Africa.
 Click to view map
The property consists of various portions of the farm Frischgewaagd 96 JQ and Ledig 909 JQ. These two farms are located directly south of the Pilanesberg complex of which the majority of the area has been declared a national park.
The Frischgewaagd-Ledig mine will comprise of an underground mine with a twin shaft complex: a main shaft and a ventilation shaft which will also function as the second escape route.
The main shaft is planned to have a hoisting capacity of 230 000 tonnes of ore per month, of which initially the primary Merensky Reef ore will be 180 000 tonnes and the secondary UG2 ore will make up the balance. Once the Merensky has been depleted, the full 230 000 tonnes will be generated from UG2 ore. It is anticipated that the annual 4E (3 PGM + Au) production during steady state will vary between 310 000 and 370 000 ounces.
The Merensky Reef will be mined using conventional stoping methods and the UG2 using semi-mechanised methods. Crushing will be done underground from where the reefs will be separately conveyed to stockpiles at the concentrator plant. The concentrator design is based on industry best practice and results from test work conducted during the bankable feasibility study. Options for co-developing a concentrator plant with neighbours Maseve are being investigated for economies of scale.
Developing a Mine
Wesizwe Platinum officially launched the Frischgewaagd-Ledig mine development project in July 2011.
TWP, a highly-competent project management company that has significant mine development experience in South Africa’s PGM industry, has been appointed as EPCM contractor for the first 12 months of mine development – from July 2011 to June 2012 – with the option to renew the contract over the entire life of project execution.
The scope of this work will include all project critical activities that will enable the project to start pre-sink preparation on the main and ventilation shafts in the first half of 2012.
Some of the important activities in the first six months of mine development include resourcing of both the Wesizwe Platinum Owner’s Team and that of the EPCM contractor, and the establishment of project systems for procurement, financial management and quality assurance.
Wesizwe Platinum has also paid South Africa’s national energy supplier, Eskom, the requisite deposit of R58 million and has provided the required performance guarantees of around R31 million, enabling Eskom to commit to provide a permanent power supply.
Wesizwe Platinum and its 26%-owned associate company, Maseve, are collaborating in the processes of securing bulk water supply in order to derive maximum advantage from a synergistic approach to the infrastructure needs of both mines.
|
