Lonmin announced on 13 December 2017 that it had acquired a further 50% of the Pandora Joint Venture from our joint venture partners Anglo American Platinum (Amplats) and Northam. Lonmin now owns 100% of Pandora.
Mining can now be extended at Saffy Shaft without having to spend R2.6 billion of capital expenditure, of which R1.6 billion would have been required over the next four years. It also provides significant future opportunities to develop Pandora’s potential. Pandora mines PGMs from the UG2 reef underlying the Pandora mining area. 100% of the ore produced by the Pandora JV is sold to Lonmin for processing and refining.