Mogalakwena

Bushveld Complex Northern Limb (Platreef horizon) · PGE-Cu-Ni · Valterra Platinum Limited (100%, via Rustenburg Platinum Mines Ltd)

dossier-gradeproducing

Derived from the deployed data layer at build · dataset v2.28.20 · record reviewed 2026-05-02 · machine-readable: /api/v1/deposits/mogalakwena.json · ⎙ print / save as PDF

Investment screen

DFI · investment house — is this fundable, watchable, or a pass?

Life-cycle stageproducing Derived

Operating statusOperating; Sandsloot Underground trial mining May 2026 Sourced

Reserve scale (P+P)1084.2 Mt @ 2.65 g/t 4E Sourced ≈ 92 Moz contained Derived

Reserve basis (verbatim)100% project basis (~92.3 Moz contained)

Risk-adjusted rate (§10)not published — asset-level screening not yet worked (base formula is public; see gaps below) Absent

Value anchors

advisory · corporate development — what does the record support?

Resource (M+I+I)3196 Mt @ 2.77 g/t 4E Sourced

Resource basis (verbatim)100% project basis (~285.0 Moz contained)

Primary sourceValterra Platinum 2025 Integrated Report (released March 2026); Q1 2026 Production Report [Sourced 2026-05-02] Sourced

Comparables (PGE-matched)1 African M&A · 1 intl — set spans, not market curves · deals · compare assets · data freshness Sourced

Risk read

mining major · insurer — what is the exposure?

Province IC compositeKaapvaal Craton — 5.3/10 Derived

Ownership structureFormerly Anglo American Platinum; demerged May 2025; full independence Sept 2025 after Anglo's 19.9% exit; JSE: VAL Sourced

Recent events (record, newest last — tail shown)… 5.9 → 61.0 g/t 4E (-9% volume); 2025 by-product production 18.4 kt Cu + 21.2 kt Ni; 2026 guidance 920-980 koz 4E; IRMA 50 sustainability certification March 2025; open-pit grade softening (2.53 g/t 2025 vs 2.69 g/t 2024) Sourced

What this record does not yet support — disclosed, not estimated

Risk-adjusted discount rate — deliberately not published. A province-level base is mechanically computable from the published formula (r = 8.0% + (10 − IC) × 0.8%), but Afrimintel does not publish an asset rate without asset-level tenure, settlement, and structure screening (the §10 worked-dossier process). Publishing the base alone would misstate asset risk. Each worked decomposition converts this Absent to a Derived range.