Royal Bafokeng Platinum continues to deliver growth
RBPlat’s response to the fluid operating environment continues to deliver growth during a period where the mining industry has been focused on stability and recovery. The company achieved record production with increases in tonnes hoisted of 12.1% to 4 639kt, in tonnes milled of 16.0% to 4 628kt and 4E metals in concentrate of 11.5% to 467koz, compared to 2020. Closing surface stocks increased to 184kt.
The payment of maiden dividend last year marked a shift in its strategic focus from organic growth to further enhancing its operational excellence and flexibility, and demonstrated its ability to deliver economic value.
RBPlat received takeover approaches from Implats and Northam during the year. Following a joint cautionary announcement by RBPlat and Implats that an offer through a scheme of arrangement was under discussions, Northam acquired a 32.8% stake in RBPlat from itd then largest shareholder, Royal Bafokeng Holdings, with further market purchases pushing this holding up to 34.7% as at 31 December 2021. Implats subsequently announced a firm intention to make a takeover offer and up to 31 December 2021, had acquired a shareholding of 35.3% in RBPlat.
