Modern Mining May 2015

MINING News

Sibanye updates on its organic growth projects for the WRTRP was completed at the end of the March 2015 quarter and is currently undergoing an internal techni- cal and financial review. This study has incorporated the use of available surface infrastructure to reduce upfront capital and enhance value.

care and maintenance in mid-2012. It has a complete metallurgical plant with a name- plate capacity of 120 000 tpm. Capital expenditure of R286 million was approved in July 2014 for a 15-month con- struction programme to complete critical pumping infrastructure and re-align the shaft steelwork, including the installation of shaft service pipes and cables critical in support of the mine build-up strategy. The infrastructure project is on schedule for completion by the end of September 2015 as originally planned and is forecast to be completed within budget. The feasibility study and development of the life of mine plan is on schedule for completion in the June quarter. R150 million has been provisionally approved to commence mine develop- ment in 2015 with 2 000 m planned to be developed into the initial targeted mining areas by the end of 2015. During February, the development commenced with a total of 192 m completed for the quarter. 

Reporting on its organic growth projects in its operating update for the quarter ended 31 March 2015, Sibanye Gold says the pre- feasibility studies for the Kloof 4 Shaft and Driefontein 5 Shaft below infrastructure were completed in December 2014, both delivering higher forecast returns than the Group’s internal investment hurdle rates. The projects have added approximately 1,1 Moz to the Driefontein and 0,5 Moz to the Kloof gold mineral reserves. Detailed feasibility studies for both projects remain on schedule for comple- tion during the June 2015 quarter and, due to the favourable forecast returns, initial preparatory project site preparation and development commenced at Kloof 4 Shaft in January, with the Driefontein 5 Shaft project preparation planned to commence in July.

The infrastructure utilised includes existing gold plants and elution capacity at Driefontein and Kloof, as well as uranium processing capacity at the Ezulwini metal- lurgical complex. Metallurgical test work undertaken during the study has further enabled refinements to the process design, result- ing in reduced capital and operating costs. The outcome of the study will be released during the June 2015 quarter. Sibanye now also owns the Burnstone project near Balfour. Designed as a shallow (~250 m to ~1 000 m), semi-mechanised mine, Burnstone – on which construction started in 2006 – produced approximately 38 000 oz of gold before being placed on

DD-0565_FillDense_Layout 1 4/2/15 12:30 PM Page 1 Regarding the West Rand Tailing Retreatment Project (WRTRP), Sibanye says a detailed feasibility study consid- ering a phased development approach

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May 2015  MODERN MINING  13