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Platinum mine developer working with govt on export of concentrate to Saudi Arabia

Platinum Group Metals CEO Frank Hallam.

Platinum Group Metals CEO Frank Hallam.

Platinum Group Metals CEO Frank Hallam

26th July 2024

By: Martin Creamer

Creamer Media Editor

     

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Toronto- and New York-listed Platinum Group Metals, the near-term objectives of which are to advance the Waterberg project in Limpopo to a development and construction decision, is working with the South African government to analyse the possibility of exporting platinum group metals (PGM) concentrate.

An initial trade-off study has been completed to determine the viability of exporting the concentrate from South Africa to Saudi Arabia and a key requirement would be to secure a long-term permit for the export from South Africa of unrefined precious metals in concentrate, the company stated earlier this month.

The Waterberg project is envisaged to operate as a fully mechanised mining operation. It will be decline-access operation that will produce platinum, palladium, rhodium and gold, as well as copper and nickel as by-products. A cooperation agreement has been established between Platinum Group Metals, under the leadership of CEO Frank Hallam, and Ajlan & Bros Mining and Metals. This agreement aims to study, in three phases, the establishment of a standalone PGM smelter along with a base metals refinery in Saudi Arabia encompassing a:
  • global PGM concentrate market study currently in process that includes the sourcing of global concentrate to minimise one- project risk;
  • definitive feasibility study (DFS) for the construction and operation of the PGM smelter and base metal refining in Saudi Arabia; and
  • option to form a 50:50 joint venture following the completion of the smelter DFS, which will assume the export of PGM concentrate from Waterberg to a port facility in Saudi Arabia.
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Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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