Volspruit Project update

RNS Number : 9893Y

Sylvania Platinum Limited

03 February 2014

 



03 February 2014

Sylvania Platinum Limited

("Sylvania" or "the Company")

 AIM (SLP)

Environmental Assessment Practitioner recommends advancement of the Volspruit project

Sylvania Platinum Limited, the low cost Platinum Group Metal ("PGM") dumps processor and mine developer, today announces that the environmental assessment phase of its proposed Volspruit project has reached a significant milestone and that the Environmental Assessment Practitioner ("EAP") has made a recommendation to the authorities to advance the project.

SUMMARY

·      Sylvania confirms that the Environmental Impact Assessment ("EIA") reports in terms of both the Mineral, Petroleum and Resources Development Act and the National Environmental Management Act EIA regulations have been submitted by the EAP to the Department of Mineral Resources ("DMR") and the Limpopo Economic Development, Environment and Tourism ("LEDET") respectively on 28 January 2014.

·      EAP recommends the advancement of the Volspruit Project to the authorities

·      Further permitting applications in order for the project to be approved in full are now commencing

·      A decision on the Mining Right Application expected by mid- 2014

BACKGROUND

The Volspruit project is situated in the Northern Limb of the Bushveld Igneous Complex adjacent to the Nyl River, approximately 40km downstream from the Nylsvley nature reserve and 18km south of Mokopane.  On 29 September 2011 Sylvania advised that a Mining Right Application ("MRA") had been submitted, and that a key component of the application process was the completion of an EIA report. This critical stage of the MRA process has now been completed and we await the decision from the authorities. Noting that the EAP has recommended that the project proceeds, Sylvania is commencing work to finalise permissions, including the Waste Management, Water Use and Atmospheric Emissions Licenses required in order for the project to be approved in full.  Further announcements will be made as the project progresses. 

CORPORATE INFORMATION

Registered office:        Sylvania Platinum Limited

                                    Clarendon House

                                    2 Church Street

                                    Hamilton HM 11

                                    Bermuda

Postal address:            PO Box 976

                                    Florida Hills, 1716

                                    South Africa

Sylvania Website:        www.sylvaniaplatinum.com

CONTACT DETAILS

For further information, please contact:

Terence McConnachie (Chief Executive Officer)

[phone]

Nominated Advisor and Broker

Liberum Capital Limited

Tom Fyson/Ryan de Franck

[phone]

Communications

Newgate Threadneedle

Graham Herring

[phone]

 

END

 

 

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