patience and fortitude conquer all things - Royal Bafokeng ...

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‘PATIENCE AND FORTITUDE CONQUER ALL THINGS’ Ralph Waldo Emerson

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Patience and fortitude is the philosophy underlying the birth and growth of Royal Bafokeng Platinum

Limited (RBPlat). From the very beginning, when the Bafokeng first settled in the Rustenburg valley, they

faced adversity. Through hard work, dedication and fortitude, they managed to overcome these challenges

to lay the foundation for a mining company built on strength, ambition and community.

R O YA L B A F O K E N G P L AT I N U MO U R B E G I N N I N G S

Natural landscape surrounding BRPM operations

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‘Every generation of Bafokenghas had an opportunity to plant a seed, leave a legacy, make a real difference!’Kgosi Leruo Molotlegi (February 2012)

Fortitude is deeply embedded in the history and culture of the Royal Bafokeng Nation, the people who initiated

and shaped what RBPlat is today. In the 1800s, the then Bafokeng King, Kgosi August Mokgatle, used immense

fortitude to devise a plan to buy back the Bafokeng land appropriated by colonialists.

Then, through most of the 1900s, following the discovery of the world’s largest deposits of platinum group

metals on Bafokeng land, the Bafokeng fought an ongoing battle for their mineral rights. The court settlement

in 1999 with Impala Platinum Holdings Limited (Implats) gave the Bafokeng royalties on all platinum mined from

their territory, which was subsequently converted to an ownership stake in Implats. This was to be followed by a

50:50 joint venture with Anglo American Platinum Limited (Amplats) in 2002, which allowed for the expansion of

another mine (Styldrift), which began in 2009. The joint venture would later become a launching pad for

Royal Bafokeng Platinum (RBPlat).

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RBPlat has since grown into a strong mid-tier platinum group metals (PGMs) producer, mining the Merensky and

UG2 Reefs. To date, one of the biggest milestones shaping RBPlat’s growth was when it acquired the last

remaining participation interest in the joint venture which belonged to Amplats. This made RBPlat sole owner of

its operations and laid the path for further growth.

The company’s strength lies in its access to both the Merensky and UG2 Reefs and two concentrator plants.

Organic growth has been achieved through Styldrift, which is a high-margin mechanised operation. RBPlat’s

success is largely a result of agile and dynamic decision makers, with in-depth operational experience.

One of the biggest defining features of RBPlat is that it has always fought for the good of the community. This is

embodied in the company’s commitment to deliver ‘More than Mining’, by filtering prosperity to its local

communities, and ensuring their long-term sustainability. The company invests heavily in community

infrastructure, healthcare, education and skills development in its local communities.

RBPlat has a firm commitment to its employees, which is evident in its value of ‘Safety and People First’. It strives

for zero harm at all its operations so that every employee goes home safely to their families each day.

Exploration team mapping geological structures and conducting fieldwork

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Fortitude, says writer Hilary Mantel, means fixity of purpose. It means endurance. It means having the

strength to live with what constrains you. This is the thread that runs through the story of RBPlat. Look at the

beautiful and striking images, each of which tells a story. Read the stories of the RBPlat communities. You will

see how, in the end, fortitude always wins.

F O R T I T U D EA LWAY S W I N S

BRPM North shaft employees

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The growth of RBPlat is linked intrinsically with the history and culture of the Bafokeng people. Bafokeng

means ‘People of the dew’, and tradition tells that when the Bafokeng settled in the Rustenburg valley, the

grass captured heavy overnight dew, holding the promise that the land would be fertile and the community

would prosper. This is what RBPlat stands for today – mining that is used for good and that brings goodness

and prosperity to the people it serves.

A H E R I TA G EB U I LT O N D O I N G G O O D

Kgosi Leruo Molotlegi engaging with community members Image Credit: Royal Bafokeng Holdings

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History shows us that Kgosi August Mokgatle (1834 - 1891) showed immense foresight in the early days,

when he sent regiments to the diamond mines in Kimberley and used the earnings to buy back the land,

following the appropriation of the land by the colonialists. Thirty-three years after Kgosi Mokgatle’s death, a

part of the reef containing the world’s largest deposit of PGMs was discovered on Bafokeng land. As a result

of Kgosi Mokgatle’s purchasing of the land, the Bafokeng were eventually (after the dismantling of apartheid)

able to claim royalties from PGM companies mining on their land.

H I S T O R YM A R K E D B Y R E S I L I E N C E

Kgosi August Mokgatle pictured with three of his sons Image Credit: National Archives and Records Services of South Africa

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A group of Bafokeng men en-route to the Kimberley diamond mines - 1871 Image Credit: Royal Bafokeng Archives

Traditionally farmers, the Bafokeng’s livelihood changed following the discovery of the Merensky Reef on

their land in 1925. The reef is one of the richest platinum deposits in the world and, on its discovery,

white-owned companies began entering into mineral contracts with the Bafokeng to prospect for platinum.

The Bafokeng earned royalties but these were compromised by the government’s oppressive policies, and

collusion between the mining companies and the apartheid and Bophuthatswana Homeland governments.

Following the dismantling of apartheid in the 1990s, the Bafokeng sought recourse from the courts to

determine their rights. A court settlement in 1999 with Implats; the third-largest PGM producer in the world,

gave the Bafokeng a 22% royalty on all PGMs mined from their territory and this was later converted into an

ownership stake in Implats.

D I S C O V E R Y O F P L AT I N U MR E I G N I T E S T H E PAT HT O G R O W T H

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A view of the BRPM concentrator plant

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Various geological samples from the RBPlat operational area, demonstrating the broad spectrum of rock types and

associated mineralogy

BRPM concentrator plant

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In 2002, Amplats through its wholly-owned subsidiary, Rustenburg Platinum Mines Ltd (RPM), formed a 50:50

joint venture with the Bafokeng, through Royal Bafokeng Resources (Pty) Ltd (RBR), known as the Bafokeng

Rasimone Platinum Mine Joint Venture (BRPM JV).

V E N T U R I N G W I T H T H E P L AT I N U M K I N G S

Styldrift sod-turning ceremony - 06 Nov 2008

L – R: Neville Nicolau, Amplats CEO (2008 – 2012); Jerry Thibedi, North West Province Member of Executive Council for Public

Works (2007 – 2009); Fritz Neethling, Amplats Executive Head: Projects and Engineering (2008 – 2010) and Prince Bothata Molotlegi

of the Royal Bafokeng Nation

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RBPlat CEO, Steve Phiri and employees at the listing of RBPlat on the JSE on 8 November 2010

The Bafokeng increased their participating interest to 67%, gaining operational control of the BRPM JV, and

resulting in the restructuring of the joint venture in 2009. This paved the way for the listing of RBPlat on

8 November 2010, becoming the first community-owned business to be listed on the Johannesburg Stock

Exchange (JSE). In December 2018, RBPlat acquired Amplats’ 33% interest in the joint venture for

R1 863 million, becoming sole owner of the assets.

L I S T I N G O N T H E J S EI N 2 0 1 0

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Miner at the Styldrift Reef intersection (2012) Image Credit: Katherine-Muick Mere (Business Live) 600 Level station cutting - Main shaft at Styldrift

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Central to the company’s strategy is achieving More than Mining. RBPlat aims to be a focused PGMs producer,

offering a clear value proposition to outperform the market. In line with its More than Mining philosophy, the

company has a proud track record of positive social impact as a transformation leader.

A performance-driven culture and aspiration to zero harm underlie the company’s goal to consistently

achieve operational excellence. Assets are managed with high optionality and flexibility, which allow quick

and appropriate action to changing market conditions. Organic growth is achieved through internal

expansion and value enhancing opportunities.

R O YA L B A F O K E N G P L AT I N U MA S O L I D B U S I N E S S

S T R AT E G I C P I L L A R S

01Towards operational

EXCELLENCEBuild flexibility to ensure

SUSTAINABILITYPursue value enhancing

OPPORTUNITIESGrow

ORGANICALLY

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Robin MillsIndependent Director

Obakeng PhetweChairperson and

Non-Executive Director

Martin PrinslooChief Financial Officer and

Executive Director

Lindiwe MontshiwagaeExecutive:

Investor Relations andCorporate Communications

Steve PhiriChief Executive

Officer


Officer

Mzila MthenjaneExecutive: Business

Sustainability

Nico MullerChief Operating Officer

Martin PrinslooChief Financial Officer

Vicky TlhabaneloExecutive: Human Resources

Neil CarrChief Operating Officer

Hanre RossouwChief Financial

Officer

Vicky TlhabaneloExecutive:

Human Resources

Steve PhiriChief Executive Officer and

Executive Director

Hanre RossouwChief Financial Officer and

Executive Director

Louisa StephensIndependent Director

Peter LedgerIndependent Director

Mark MoffettIndependent Lead Director

Zanele MatlalaIndependent Director

Udo LuchtNon-Executive Director

Thoko MokgosiMwantembe

Independent Director

Mike RogersIndependent Director


Executive Director

Adv Kgomotso MorokaChairperson and


David NokoIndependent Director

Linda de BeerIndependent Director

Mike RogersNon-Executive Director

Nico MullerChief Operating Officer and

Executive Director

Prof Francis PetersenIndependent Director

Over the years, RBPlat has been led by a team of strong, committed and dedicated Board members and

Executive Committee members. The teams have shown effective leadership through ensuring governance,

good performance and subscribing to ethical leadership.

S T R O N G L E A D E R S H I P

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2002

2010

2012

2009

2011

2013

2014

2016

2018

2015

2017

2019

20202021

The JV was restructured in 2009 resulting in RBPlat’s participating interest in the BRPM JV increasing from

50% to 67%

The development of Styldrift commenced

MAJOR PROJECTS UNDERTAKEN

Increased flexibility through extraction of UG2 and IMS generation

BRPM CREATES FLEXIBILITY

Commenced with Styldrift life of mine infrastructure development

MECHANISED MINING

Royal Bafokeng Nation (RBN) and Anglo American Platinum (Amplats) agree on a 50:50 investment inBafokeng Rasimone Platinum Mine Joint Venture (BRPM JV)

50:50 INVESTMENT

Took over operational control of the BRPM JV

Listed RBPlat on the JSE on 8 November

RBPLAT LISTING

Equipping of Main shaft commencesSTYLDRIFT MAIN SHAFT

Styldrift Main shaft commissionedCOMMISSIONING OF STYLDRIFT

Purchase of Maseve operationsMASEVE

Entered into a gold streaming agreement with Triple Flag Mining Finance Bermuda Limited to

receive upfront cash payment of US$145 million

A YEAR OF TRANSITION

Maiden dividend of R1.5 billion declared in March

Interim dividend of R1.5 billion declared in August

Buy-back of convertible bonds of R482.3 million

RETURNING CASH TO INVESTORS

Concentrator upgraded to 250ktpm BRPM PLANT UPGRADE

Over R1 billion invested in SLPs and mandatory training between 2010 and 2018

RBPlat acquired the full title of the Amplats 33% interest in the BRPM JV

R1.1 BILLION INVESTMENT

Returning a minimum of 10% of free cash flow before growth capex to shareholders

RBPLAT ANNOUNCES DIVIDEND POLICY

Styldrift Main shaft Merensky Reef intersection and establishment of 600 Level

STYLDRIFT SHAFT SINKING MILESTONE

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1 0 - Y E A RM I L E S T O N E S

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A view of the Styldrift Main and Services shafts and bank areas

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Installation of hanging wall support with a mechanised bolt at Styldrift

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BRPM concentrator plant run of mine stockpile The flotation process used to recover PGMs in concentrator plants

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In stope face drilling – UG2 Central High Reef Facies

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Drilling of a stope face in a mechanised bord and pillar section at Styldrift

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An employee travelling on the South shaft man-riding belt Employees proceeding to surface on the South shaft chairlift at the end of their shift

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A centre gully winch in operation at BRPM Load Haul Dumper (LHD) preparing to tip ore onto a strike belt at Styldrift 600 Level

We have always recognised the important role that relationships play in our ability to deliver on our purpose,

and building and maintaining mutually beneficial relationships with our stakeholders is an integral part of our

value creation process. Our constructive engagement processes and strong relationships with the

communities in which we operate, our employees, our Union and society as a whole, are key to maintaining

our social licence to operate and creating value for society.

Our relationship with the Union is characterised by regular consultation and collaboration on various

employee matters, which is demonstrated by the signing of our landmark three-year wage agreement in

2011, and again the signing of two subsequent five-year wage agreements, which were the first for the

mining industry. We understand that ongoing positive relationships with our Union and employees is critical

to ensuring the stability of our business. Over the years, labour stability and employee engagement have

proved to be our key strengths and they have always been driven by mutual respect and teamwork.

In addition, our strong community relationships fostered through established community engagement

structures, have allowed us to deliver on our Social and Labour Plan commitments and contribute to the

delivery of our aspiration of achieving More than Mining.

M O R E T H A N M I N I N G

CEO employee engagement session

Delegates from the European Union Commission visiting

Waterkloof Hills Estate in 2015

RBPlat’s Collin Alexander with Geoffrey Moatshe, NUM

Rustenburg Regional Secretary at the signing of the second

five-year wage agreement in 2019

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Over the past 10 years, RBPlat has invested over R1 billion in social and labour plan projects that support

and help its local communities of Mafenya, Chaneng, Robega and Rasimone villages. These projects have

mainly focused on education, healthcare, basic infrastructure upgrades, community skills development,

poverty alleviation and job creation.

S U S TA I N A B L ED E V E L O P M E N T O F O U R C O M M U N I T I E S

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Proud owner of a newly constructed home; a project of RBPlat over the past 10 years to rebuild homes for families in need

RBPlat, in consultation with the Royal Bafokeng Administration’s (RBA) infrastructural planning committee,

undertook projects to upgrade portions of roads in Robega, Mafenya and Chaneng to improve community

infrastructure. In addition, RBPlat also constructed the Grade R Classroom at Rasimone Primary School, upgraded

the Clinic in Chaneng, and provided ICT infrastructure to six schools in the community.

INFRASTRUCTURE DEVELOPMENT

Following consultation with community leadership structures regarding the identification of families in need, 87

houses of 80m² each were constructed, and handed over to identified families over the past 10 years.

COMMUNITY HOUSING

RBPlat’s employee home ownership scheme is realised in the development of Waterkloof Hills Estate, in

Rustenburg, which is being completed in phases for RBPlat employees. Employees are assisted in assessing the

financial commitments of purchasing a home, as well as the benefits of investing in their own home. RBPlat also

provides employees living on the Estate with subsidised bus transport to and from the mine. In addition, a school

is being built on the Estate which will cater for 2 000 learners. To date over 1 400 families have purchased homes

on the Estate.

EMPLOYEE HOME OWNERSHIP

Some of our social development projects for our communities and employees include:

Paved sidewalks on Mafenya Road by RBPlat Proud beneficiaries of a newly constructed home

Homeowners at Waterkloof Hills Estate Kgosi Leruo Molotlegi, Advocate Kgomotso Moroka (former

RBPlat Chairperson), Albertinah Kekana (RBH CEO) and Steve

Phiri (RBPlat CEO) at the 2014 launch of Waterkloof Hills

Estate (WHE), our employee home ownership scheme56 57

RBPlat’s education support funding also supports an education intervention at Charora High School, which serves

the MACHARORA local communities. Both the maths and science classrooms were renovated and provided with

updated equipment. RBPlat has also funded the salaries of additional experienced maths and science teachers.

The programme has steadily improved the quality of the maths and science results, and learner performance.

A FOCUS ON MATHS AND SCIENCE

The annual RBPlat bursary programme is aimed at supporting local learners to pursue tertiary education

opportunities. Canadian-based Triple Flag Precious Metals Corporation, with which RBPlat signed a gold

streaming agreement in October 2019, invests US$100 000 annually in a fully funded bursary programme over

the life of the stream. The programme commenced with the 2020 academic year and these bursaries, which are

available for engineering, geological and other technical degrees, are expected to benefit more than 50

undergraduates from local communities as well as family members of RBPlat employees, each year.

BURSARIES FOR GRADUATES

RBPlat has a scholarship programme at Kitsong High School in Phokeng. The aim is to make quality private

schooling accessible to the local community. The quality of the education offered at the school is reflected in its

excellent matric results. To encourage primary school children in local communities to study maths and science,

scholarships are provided to selected Grade 8 learners at Kitsong High School, from local communities.

SCHOLARSHIPS FOR LEARNERS

RBPlat invests in the Thutho Thebe Educational Fund founded by the late Queen Mother, Dr Semane Molotlegi of

the Royal Bafokeng Nation to improve education standards in the community. The Fund focuses on teacher

development, providing educational resources and materials for schools and strengthening school management

structures and school governing bodies, while training parents to provide guidance on their children’s

schoolwork.

TEACHER DEVELOPMENT

Community members attending the Adult Education Training

(AET) facilitated by RBPlat

Charora High School learners enjoying the upgraded AstroTurf

soccer field funded by RBPlat

Charora High School learners who were part of the RBPlat Maths and Science programme

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Waterkloof Hills Estate - RBPlat employee housing development

Most recently, RBPlat’s contribution to health support was mainly invested in infrastructure. An upgrade to

the Chaneng Clinic serving local communities, included the ablution facility, two consulting rooms and the

provision of security guarding at the clinic. Construction of a much-needed new forensic pathology facility in

Phokeng now serves the needs of the communities and mines in this area. RBPlat also assists the Department

of Health with the tracking of potential tuberculosis hotspots in the community.

In 2020, RBPlat converted its Maseve Mine, South shaft Change House, into a 200-bed hospital

(RBPlat COVID-19 Field Hospital) to provide initial COVID-19 medical treatment to its employees and

communities, and also partnered with government and other roleplayers in the private sector to provide

innovative solutions to the health challenges presented by the COVID-19 pandemic.

H E A LT HI N F R A S T R U C T U R E

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COVID-19 protocols observed at the BRPM Clinic

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Health screening and testing of employees at the RBPlat Clinic Blood pressure screening of employees at the RBPlat Clinic

Clinic nurse conducting a medical assessment at the Chaneng Community Clinic

Our graduate development programme provides young graduates with an opportunity to gain meaningful

and structured workplace experience and also to create a talent pipeline for RBPlat.

This is also supported by our internship programme which offers learners an opportunity to complete the

practical training required to gain a qualification and be eligible for employment. Successful learners in the

portable skills training programme often move on to learnership programmes.

G R O W I N GY O U N G M I N E R S

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Basic electro-hydraulic training at the Styldrift Training Centre

Induction refresher training at the Styldrift Training Centre

Youth from Robega village who received a Mining Qualifications Authority (MQA) sponsored electrical training, undertaking practical

work at some of our newly built houses at Waterkloof Hills Estate

RBPlat’s poverty alleviation and job creation programmes focus on providing community members with the

skills and resources to build a better life. Being able to produce food not only gives community members a

potential source of income, but also helps them feed their families.

RBPlat supports community members with training in food production and also provides them with

farming starter packs to enable them to start small-scale vegetable or poultry farming.

A C H A N C E AT A B E T T E R L I F E

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A community member’s home vegetable garden, following her completion of the crop farming training at the Buhle

Farmers’ Academy

RBPlat funded training courses at the Buhle Farmers’ Academy, which allows community members like Ms Lenah Mabonda from

Robega village, to earn a living from chicken farming

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Mining and agriculture are the main sources of income in the North West province, and drought has badly

affected local subsistence cattle farmers. To assist them, RBPlat has developed a database of livestock,

installed a spray race system and sprayed, tagged and treated the animals. The company also repaired the

existing dam, built a new dam and is working on installing a windmill and a borehole. RBPlat continues to

support the farmers through a livestock feeding programme, which, in line with commercial farming

methodologies, provides feed during the dry months when grazing runs out.

Using a local company, we also supplied and installed a 4.1 kilometre cattle fence to protect

community livestock.

H E L P F O R L O C A L C AT T L E FA R M E R S

Cattle from MACHARORA communities grazing on fields near RBPlat’s South shaft mine

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RBPlat has developed a strategy aimed at providing support for local businesses and SMMEs to help them

grow and become sustainable. This includes offering business development, funding assistance and vendor

registration support to local businesses via the RBPlat Enterprise and Supplier Development (ESD) Centre,

as well as access to boardrooms and computer and printing facilities. Through the RBPlat ESD Centre, local

businesses now have preferential access to procurement opportunities at RBPlat operations, which support

their growth and sustainability.

H E L P I N G L O C A LB U S I N E S S E S B E C O M E S U S TA I N A B L E

Community members attending an SMME training course at the ESD Centre

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BRPM North shaft employees

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View of the Maseve primary mill and mill feed silo

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A view of the Maseve MF1 floatation circuit

A C K N O W L E D G E M E N T S

With thanks and appreciation to the various people and organisations who have contributed to

Royal Bafokeng Platinum over the past 10 years. The list is not exhaustive and is by no means fully inclusive.

• Albertinah Kekana

• Andrew Jackson

• Bongani Nqwababa

• Chris Griffiths

• Glenn Harris

• Martin Prinsloo

• Neville Nicolau

• Niall Carroll

• Nico Muller

• Pieter Rorich

• Royal Bafokeng Nation Leadership

• Anglo American Platinum

• Department of Mineral Resources and Energy

• Minerals Council South Africa

• National Union of Mineworkers (NUM)

• NUM Trade Union Co-Ordinator - Ernest Molapisi

• RBPlat Board of Directors

• RBPlat Communities

• RBPlat Employees

• RBPlat Security holders

• RBPlat Suppliers

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ROYAL BAFOKENG PLATINUM

The Pivot

No 1 Montecasino Boulevard

Block C, 4th floor

Fourways

www.bafokengplatinum.co.za

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