The Merensky Reef, which is not deemed to be economically viable at present, is the upper portion of a pyroxenite layer, with a chromitite stringer close to the contact with the hanging wall and with the mineralisation decreasing from the chromitite stringer into the hanging wall and footwall.
Afplats holds a mining right which is contiguous to prospecting rights, for a total area of some 9,931ha across the farms Leeuwkop and portions of Hartebeestpoort B, Kareepoortand Wolwekraal west of Brits. In terms of Implats’ acquisition of Afplats announced in February 2007, Implats acquired 100% of Afplats and, by implication, an effective 74% stake in the Leeuwkop project and varying proportions in the associated subsidiaries. The mining right for the Leeuwkop area was awarded in April 2008. The final structure for the so-called Imbasa and Inkosi areas, which comprise several portions of the farm Hartebeestpoort B, had not been finalised at year-end. These are held in subsidiaries with varying BEE partnership shareholdings. The Inkosi prospecting area was amended in February 2009 with the addition of the so-called “gap area” on the farm Hartebeestpoort B that had previously been excluded.
Shaft sinking activities at the Leeuwkop Project were deferred due to the prevailing market conditions in 2009. During 2010 feasibility work continued to assess different options to render the project viable; these studies have not been concluded and the Mineral Resource has not be reclassified to the Reserve category.
The full Mineral Resource and Mineral Reserve statement
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