About us

Corporate profile


“Atlatsa controls one of the last remaining significant high-quality PGM resources in South Africa.”

Atlatsa Resources Corporation through its subsidiary, Plateau Resources Proprietary Limited has a 51% shareholding in Bokoni Platinum Holdings Proprietary Limited (“BPH”), while Anglo American Platinum Limited through its subsidiary, Rustenburg Platinum Mines Limited has remaining 49% shareholding in BPH.

Atlatsa was until recently listed on both the Toronto Exchange and JSE.

Atlatsa has since undergone a balance sheet clean up and revised its corporate structure to allow BEE shareholders direct influence in the strategy and direction of the company.

Bokoni Platinum Mine, a subsidiary of BPH, is located in the Sekhukhune land District of the Limpopo province of South Africa, approximately 80 km southeast of Polokwane and approximately 330 km northeast of Johannesburg. The deposit is situated in the eastern limb of the Bushveld igneous complex, rich in platinum group metals (PGMs) such as platinum, palladium and rhodium. These PGMs are often associated with precious metals such as gold, as well as base metals such as copper, nickel, cobalt and chrome.

The mine which commenced operations in 1969 on the Merensky reef horizon and was placed on a care and maintenance basis in the second half of 2017. At the time, the mine was predominantly mining the Merensky reef with a production output of 11,000 m² from Brakfontein (BFN) and with a smaller UG2 output from Middelpunt Hill (MPH) of 8,000 m² per month.

BPM has two concentrator plants, with one for Merensky (110ktpm) and the other for UG2 (70ktpm).

Considering improving market fundamentals and near-term strong palladium and rhodium prices, driven by automotive demand as well as the ability to extract incremental revenues from chrome, it was decided to investigate the potential of the mine as a UG2 only operation. This consideration is supported by the favourable metals mix within the UG2 orebody, very good in-situ grades and the high PGM recoveries, as well as the potential for chrome production from the orebody.

The mine has good infrastructure and a sound care and maintenance program is in place, which will support the start-up of the mine. A base case was developed as well as an alternatve option namely:

Base Case A mining plan has been developed to build up to 180 ktpm from both MPH and BFN which enables a reasonably rapid build-up of production, including early stoping from old areas as well as new areas, whilst minimizing capital expenditure by using existing infrastructure and selected available equipment where appropriate. Early stoping from MPH improves the head grade in the early years due to the dilution from on-reef development, for improved plant recoveries.

Option 2 (OPT 2) The option to mine and treat MPH production only at 110 ktpm and not develop BFN at all is also a viable consideration to reduce total and peak funding requirements. This option does not preclude the start-up of mining from BFN in later years

Project Milky Way – BPH Disposal


Following the placing of the Bokoni Platinum Mine on care and maintenance in 2017, Anglo American Platinum, “AAP”, and Atlatsa Resources, “Atlatsa”, the joint venture partners in Bokoni, commissioned an independent study to evaluate options that would allow the mine to be taken out of care and maintenance. The study explored options that would best position the mine to take advantage of the improved platinum group metals (PGM) market fundamentals, with the necessary capital investment, to create a sustainable operation.

It is the view of the joint venture partners that the restart of the Bokoni Mine is best suited to a third party with the requisite technical, operational and funding capacity to operate and invest in the mine, setting it on a new sustainable path. As such, a disposal process has been undertaken and is advanced. We have been running an inclusive process allowing new entrants and emerging PGM producers the opportunity to participate and acquire Bokoni mine.

The joint venture partners believe that the right owners will unlock the potential of the mine, ensuring it becomes a sustainable operation that supports economic growth and job creation in the community and broader Limpopo province.

It is hereby recorded that Atlatsa’s BEE deal with AAP, was significant in AAP converting its old order mining rights to new order mining rights, in the process contribution up to 15% of AAP’s BEE credits according to the Mining Charter version at the time. To the extent that the partners have put the “100% for Sale” sign, it is important that the successful bidder/consortium would at least seek to ensure the following happens:

  1. 1. Atlatsa Shareholders realise maximum value un-lock from the sale of their 51% ownership of Bokoni, while at the same not regressing the transformative nature of the Atlatsa BEE deal.
  2. 2. AAP continue to keep their BEE credits derived from Atlatsa deal.
  3. 3. To the extent possible, enhance BEE empowerment through community, employee and strategic partner equity participation.
  4. 4. Mine Development Capex is funded in the near and medium term to ensure a sustainable operation results from the Bokoni sale.
  5. 5. The resumption of operations at BPM includes programmes that see to the development of local suppliers, bringing in black-owned women businesses, promoting small, medium-sized and microenterprises and where possible advancing low-cost financing for local suppliers.