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May 2015
MODERN MINING
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MINING News
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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.
Regarding the West Rand Tailing
Retreatment Project (WRTRP), Sibanye
says a detailed feasibility study consid-
ering a phased development approach
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.
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
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.