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RBP - Royal Bafokeng Platinum Limited - Approval of significant replacement

Release Date: 06/12/2010 17:03
Code(s): RBP
Wrap Text

RBP - Royal Bafokeng Platinum Limited - Approval of significant replacement capital expenditure ROYAL BAFOKENG PLATINUM LIMITED (formerly Royal Bafokeng Platinum (Proprietary) Limited and formerly Lisinfo 223 (Proprietary) Limited and formerly Lisinfo 223 Property (Proprietary) Limited) (Incorporated in the Republic of South Africa) (Registration number 2008/015696/06) JSE share code: RBP ISIN: ZAE000149936 ("RBPlat") APPROVAL OF SIGNIFICANT REPLACEMENT CAPITAL EXPENDITURE As reported in the Company`s Pre-Listing Statement dated 18 October 2010 (see Competent Person Report) shareholders are advised that the Board of Directors of RBPlat has approved an expansion capital project relating to the North Shaft Merensky Phase III project on the Bafokeng Rasimone Platinum Mine (BRPM) in Rustenburg, following the conclusion of the feasibility study. The BRPM North Shaft Merensky Phase III project will significantly extend Merensky production levels at the North Shaft, giving access to 1.41 million Merensky 4E ounces. The R1.272 billion project, which has commenced, will span over a period of approximately 7 (seven) years and is currently scheduled to conclude in the third quarter of 2017. The proportional share of capital required from RBPlat for the project amounts to R852.50 million over the project period and will be funded internally from cash generated by operations. Johannesburg 06 December 2010 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 06/12/2010 17:03:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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