Monday, August 20, 2018

Zimbabwe’s emerging platinum sector appears to be on the verge of a boom as Implats goes for the $500m second phase expansion at Ngezi and other potential mines wait in the wings.

Craig Oliver, well remembered in SA mining circles from his time as Nkwe Platinum CEO, has been killed in a plane crash in the Republic of Congo.

Northam Platinum has increased its capital expenditure estimates for its flagship Booysendal project to R3.6bn.

About half of the R700m raised as the Bakubung nation's Wesizwe Platinum shares was invested in microlender Mafori Capital, it has been confirmed.

Eastern Platinum is looking again at how it could develop the various expansion projects it controls on the Eastern Limb of the platinum-bearing Bushveld Complex.

Eastern Platinum, South Africa's sixth-largest platinum group metals producer, says the company has the potential to increase its production to 600 000 ounces per annum.

Jubilee Platinum is moving rapidly to build a commercial plant to treat chrome-rich platinum concentrate, an important development in the South African platinum sector.

Nkwe optimises a bankable study into a R6.5bn-R8.3bn platinum project ahead of a listing on the JSE and Hong Kong. Xstrata must decide if it wants to earn into the project and shoulder the costs.

Impala Platinum says its production remains unaffected by a work stoppage at its 12 Shaft operation in Rustenburg.

Wesizwe secures financing of R6.6bn to build a mine. The funding will come from a Chinese consortium, comprising Jinchuan Group and the China Africa Development Fund, and which will take a 51% stake in Wesizwe.