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Modikwa Platinum Mine is an independently managed, 50:50 joint venture between ARM Mining Consortium Limited and Rustenburg Platinum Mines Limited. The mine is on the border of the Mpumalanga and Limpopo provinces of South Africa, approximately 25 kilometres west of the town of Burgersfort. It forms part of the Eastern limb of the Bushveld Complex and operates under a mining right covering a total area of 140 square kilometres. The current mine infrastructure consists of two major decline shafts, namely North Shaft and South Shaft, and three adits on Onverwacht Hill. The mine is a hybrid operation with conventional stoping and trackless development and ore clearance. Modikwa exclusively mines the UG2 horizon from surface to 450 m below the surface. The mining method at Modikwa is conventional breast stoping with strike pillars. Modikwa’s Mine’s life-of-mine (LoM) at current production levels extends to 2071. The current LoM plan consists of a Mineral Resource (exclusive of Ore Reserves) of 41.7 4E million ounces and an Ore Reserve of 8.76 4E million ounces. KEY ACHIEVEMENTS
•Modikwa achieved seven million fatality-free shifts on 21 September 2010. •Cash operating cost per equivalent refi ned platinum ounce decreased year on year by 1% to R13,569. OPERATIONAL REVIEW
Modikwa recorded zero fatalities for 2010 and achieved seven million fatality-free shifts on 21 September 2010. The mine has been fatality-free for the past 57 months. The LTIFR improved by 30%, from 0.96 in 2009 to 0.68 in 2010.
Modikwa Platinum Mine.
Total capital expenditure increased to R1,350 million in 2010 (R1,246 million in 2009:). Stay-in-business capital expenditure was R633 million (R408 million in 2009); capital waste stripping R599 million (R240 million in 2009); and project capital expenditure R118 million (R598 million in 2009). Equivalent refi ned platinum ounces...