RBPlat mulls rights issue as it waits to boost Styldrift
Royal Bafokeng Platinum's Styldrift mine has more than quadrupled its capital-spending plans to R4.75-billion, and could go to the market for those funds
With the aim of producing 150,000 tons of platinum group metals a month by the end of 2018, Royal Bafokeng Platinum's Styldrift mine has more than quadrupled its capital-spending plans to R4.75-billion, and could go to the market for those funds. RBPlat was weighing all its options for funding, finance director Martin Prinsloo said on Tuesday. Prinsloo said this after the annual results presentation, at which RBPlat reported a profit of R262.7-million in 2016 from a R3.77-billion loss a year earlier. "We don't want to be in a position to start and not have sufficient money to complete it. A robust funding plan by its nature will have quite a sufficient buffer built in it to ensure that we don't run into difficulty. It could be a combination of things." The funds needed to boost production at Styldrift is in addition to the R6.09-billion spent since the mine was developed in 2010. Plans to produce 150,000 tons a month by 2017 at the shallow, mechanised mine, approved when the commodi...
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