OUR operations
Siyanda Resources purchased a majority stake in Union Mine from Anglo American Platinum in February 2018.
• Located 15km west of Northam in the Limpopo Province.
• Current life of mine extending to 2033 (based on current mine plan).
• Consists of two vertical shafts, decline system and an open cast pit.


Union mine possesses several highly attractive characteristics:
- Sizable PGM resources of 43.06 4E Moz (incl. reserve).
- UG2 prill split offers comparatively higher rhodium exposure which adds significant value given current pricing.
- A wide UG2 reef (155cm) and high reserve grade (4.46g/t): Results in one of the most favourable revenue per tonne mined metrics in the industry.
- Narrow distance between reefs: At Union the UG2 reef can be accessed using pre-existing Merensky infrastructure without incurring additional development expenditure.
- Good quality standalone infrastructure which requires low capital over LOM.
Siyanda Resources are arguably the leaders in UG2 Chrome extraction within the Industry. Siyanda owns a majority stake in MASA Chrome which is a Chrome recovery plant located in Swartklip, Limpopo Province.


Masa Chrome Company (“Masa”)
- MASA operates the Chrome recovery plant (“CRP”) that utilises UG2 concentrate from SBPM.
- Operations commenced in October 2006.
- MASA is a financially highly attractive and robust business, with
- High and stable operating margins – Net profit margin in excess of 50% (Average for the past five years of 55%).
- High cash conversion, through strategic alliances with traders and 3rd party off-takers.
- Consistent returns to shareholders with dividend distributions paid every year since inception.
- Arguably one of the lowest cost chrome concentrate producers globally.
- Experienced operational management team.
- Significant player in the industry:
- Operate, market and control 100% of over circa 560,000t of chrome concentrate per annum.
- Siyanda Resources owns a controlling stake in the Atomatic BEE SPV (BEE SPV owns 26% of Atomatic).
- The Atomatic CRP was constructed at Anglo’s Amandelbult Mine in 2016. The CRP is a separate legal entity and is used for the treatment of the UG2 concentrate from the Amandelbult Mine in order to extract chrome concentrate.
- Siyanda team manages the operation of the plant in a joint venture with Anglo.
- One of the lowest cost chrome concentrate producers globally.
- Significant player in the industry:
- Operate and produce circa 900,000t of chrome concentrate per annum; Siyanda has marketing rights to 26%.
- High margin business, has paid dividends every year since inception.
Siyanda Resources owns a majority stake in RST. RST owns a smelting complex in Middleburg and has been involved in the smelting of a wide range of alloys and products throughout the last few decades.


RST Special Metals
- High Margin business with constant returns to shareholders.
- RST has recently developed technology to smelt low grade, high chrome PGM concentrates which are not commercially viable for other PGM smelters to treat.
- PGM smelting project commenced in November 2020.
- With Smelting capacity being a constant constraint within the PGM industry, Siyanda is of the view that RST is strategically positioned to treat low grade material for value where other smelters don’t have capacity and cannot tolerate higher levels of Chrome in concentrate.
- RST currently has a long term offtake agreement with mining a major.
PA is a gas fired power plant situated in Middelburg with a generation capacity of 10.2MW using four JGS620 Jenbacher engines. Siyanda owns a majority stake in PowerAlt and which acquisition was premised on unlocking its renewable energy campaign as a Group


PA holds an independent power producer (IPP) agreement which allows for 100% of the plant capacity to be sold to Eskom and currently has a 6MW connection to the national power grid.
In addition the company owns a Power Trading and Generation license and has all environmental approvals in place for the existing plant. Furthermore, PA holds an approved Environmental Impact Assessment (EIA) to increase the generating capacity from 10.2MW to 29MW.
Siyanda Metals Marketing Company (“SMMC”) is a standalone metals marketing business developed by Siyanda and focussed initially on Chrome with a view to expanding into Ferrochrome and PGMS.


Given the extensive exposure to the chrome industry, Siyanda is ideally placed to leverage off its existing skills and market knowledge and market chrome. As a consequence, Siyanda established SMMC with the early intention of securing supply for SCSC and thereafter source alternative commodities to trade. SMMC, however, has developed significantly since inception and has plans to become a large player in the commodity trading sector.
SMMC currently markets material for Masa, Atomatic/BSCC and has marketed for Sibanye Platinum previously. SMMC has and continues to seek alternatives to market for 3rd parties. Siyanda has a deep knowledge and skill set in the chrome industry and has partnered with two of the largest commodity trading houses, being Gunvor and Traxys, to market chrome in both the local and export markets.
The margin from these activities will be based on per ton sourced and sold and a share in any profit margin earned on the trading activity.
Siyanda established Siyanda Chrome and Smelting Company (“SCSC) in order to become an integrated producer between Chrome and Ferrochrome with a view to:
• Utilising chrome ore exposure to develop beneficiation possibilities.
• Own a/(many) operational ferrochrome plant(s).
• Associated beneficiation opportunities.


As phase 1 of the project, SCSC wishes to beneficiate chrome concentrate into ferrochrome for export, through the establishment of low cost, technically advanced, DC arc furnaces that will be strategically located within South Africa’s borders.
It is expected that SCSC will operate at the bottom of the industry cost curve with a delivered cost of US$ 41.81* cents per lb Cr.
SCSC has invested circa ZAR70 million in the Project to date, which included the acquisition of land in close proximity to Siyanda’s Union Mine and the completion of a bankable feasibility study.
An Environmental Impact Assessment has been progressed significantly.
Based on current spot prices and consensus forecast price growth rates, the Project delivers a net present value of R6.208 billion (16.5% discount rate) and a Project internal rate of return of 36.4%.
In an effort to reduce its carbon footprint and contribute towards the Green Economy, Siyanda Resources has embarked on a group wide renewable energy drive through the implementation of various projects.


Siyanda has recognized the vital need for renewable energy in South Africa, in particular:
- Commitment to lowering its carbon footprint in line with global practices
- Lowering its reliance on the unstable Eskom power grid
- Power pricing protection and stability
Siyanda is accordingly in the process of assessing and implementing three renewable projects as part of its Group renewable drive:
- Embedded PV – Establishment of a c.60 to 100 MW PV solar farm on its own footprint (to be constructed next door to SBPM), and transferred via an Embedded line to reduce grid dependency,
- Wheeled Wind – Partnership with an IPP to wheel in c.40 – 60MW of wind power via the ESKOM grid.
- Energy Storage – Currently engaging 3rd parties providing storage solutions with advanced discussions to deploy a c.20mw storage solution.
Siyanda has appointed a specialist renewable energy consultant to oversee and advise on the various projects. Specialist consultants have been utilised to ensure that the projects are adequately costed, sized, priced and delivered according to set timetables
These renewable projects are expected to deliver up to 60% of the groups power requirements
Our INVESTMENTS
HOME IS WHERE OUR HEART IS… WHEREVER WE ARE IN THE WORLD
The company’s partners and subsidiaries are the lifeline of Siyanda Resources.
Siyanda partnered with Sibanye Rustenburg Platinum Mine to acquire a stake in their Platinum assets located in the Rustenburg Region. Siyanda Resources accordingly owns a minority stake in SRPM’s BEE SPV which holds a 26% stake in SRPM.
The acquisition was funded through a vendor financed loan.


Established in 1988 and situated in Modimolle (formally known as Nylstroom) in the Waterberg District of the Limpopo Province, Nylstene is clay brick manufacturer that employs over 250 people and has a distribution network covering the whole of the Waterberg District, Gauteng and parts of the Greater Limpopo and Mpumalanga.


Rooted in values such as: Trust, Transparency and Technical Excellence – The Gauteng Refinery’s sole purpose is to ensure that it delivers on its commitment to: “Unlocking Opportunity In The Precious Metals Value Chain”.


This proudly and fully Black-Women-led mining company is owned by Kgalagadi Alloys (44%), Kalahari Resources (36%) and the Industrial Development Corporation of South Africa Limited (JDC)(20%).


Established in 1999, Southway Refractories is a Distributor, Manufacturer and Installer of quality refractory products and services to the Southern African market. It supplies the full range of refractory products, offering a one-stop and cost-effective refractory solutions to its customers. Southway generates over R100m in revenue per annum and Siyanda holds a minority stake in the business.


OUR PARTNERS
This remarkable story has not been achieved alone, but in collaboration with selected partners that
contribute meaningful value and compliment Siyanda’s existing technical and management capabilities.
Our Partners