Sylvania Platinum’s newest project, the Thaba Joint Venture (JV), is progressing well and is expected to start production in the first half of next year. This venture is a partnership between Sylvania Platinum’s wholly-owned subsidiary, Sylvania Metals, and ChromTech Mining’s Limberg Mining Company. The project is located on the northern part of the western limb of the mineral-rich Bushveld Complex.
Sylvania CEO Jaco Prinsloo commented on the progress, noting, “The project will transform us into a significant chrome producer as we continue our examination of other opportunities.” He expressed satisfaction with the project’s current status, emphasizing its alignment with the company’s broader strategy to diversify production and income streams.
The project’s design, procurement, and construction phases are progressing on schedule, with Prinsloo describing these efforts as crucial first steps in Sylvania’s strategic expansion. The company has invested R600 million in this 18- to 24-month project, which started in August last year.
In addition to leveraging existing resources, the Thaba JV will process chrome and PGM ores from historical tailings dumps and current arisings within the Limberg chrome mine area. This initiative is expected to create a full-margin chromite concentrate-revenue stream, enhancing the profitability and sustainability of Sylvania’s operations.
In the recent quarter ending June 30, Sylvania’s Dump Operations (SDO) reported a net revenue of $20.6 million and earnings before interest, taxes, depreciation, and amortisation of $2.8 million. The company holds a robust cash position, with $97.8 million on hand at the quarter’s end. Notably, the Doornbosch operation celebrated 12 years of lost-time injury-free days, highlighting the company’s commitment to safety.
Despite challenges, including a strike and lower PGM feed grades earlier in the year, Sylvania’s Mooinooi and Millsell operations have stabilized. The company continues to prioritize the optimization of ore blending and improving equipment runtime, which recently resulted in a 2% increase in flotation plant throughput.
Looking ahead, Sylvania is not only focusing on immediate production but also planning for future expansion. The feasibility study for a new treatment facility for chrome tailings and run-of-mine ore sources at the eastern operations is underway. This is part of a broader effort to ensure the long-term viability and growth of the company’s mining activities.
At the Lesedi project, labor relations consultations are ongoing, with potential restructuring on the horizon to adapt to evolving market conditions.
Civil works for the new PGM plant are complete, with steel erection now underway. The plant’s infrastructure, including float tanks and reagent plant, is being installed, and electrical, control, and instrumentation design works are nearly finished.
Sylvania is also preparing for the future by assessing the economic viability of its Volspruit project and continuing exploration in the far northern limb projects, including Aurora and Hacra.
Source: Mining Weekly
