TSX-listed Platinum Group Metals reported that it has filed a definitive feasibility study (DFS) technical report on the Waterberg Palladium mine project located in the Bushveld Igneous Complex, in South Africa.
The Waterberg represents a large-scale platinum group metal resource with an attractive risk profile given its shallow nature. The project facilitates fully mechanised production with the potential to have amongst the lowest operating costs in the PGM sector.
“The company has filed the associated National Instrument 43-101 technical report (the DFS Technical Report), which was formally delivered to all of the Waterberg project owners on October 4, 2019, as required under the Waterberg Joint Venture Resources shareholders agreement.”
The report is entitled Independent Technical Report, Waterberg Project Definitive Feasibility Study and Mineral Resource Update, Bushveld Complex, South Africa.
An experienced South African engineering and EPCM firm provided the plant design and compiled the capital cost estimates for the project qualified persons.
The company recently confirmed positive independent DFS for the Waterberg Palladium project.
R Michael Jones, CEO and co-founder of Platinum Group, previously stated: “The DFS provides a clear outline of the world-class nature of the Waterberg Palladium deposit and concludes that it can be one of the largest fully mechanised, low cost platinum group metals mines in the world.”
He explained that a large global team of approximately 100 independent professionals and specialists, as well as excellent participation from our partner Implats, have contributed to an optimised mining plan that reduced capital from the earlier plan and significantly increased the mineral reserves for a 45 year life, 420 000 4E ounce per year steady state mine plan.
Jones explained that the Waterberg project will create approximately 1100 new highly skilled jobs and a significant investment in local training. Business opportunities is part of the benefits to stakeholders, including local communities, shareholders, provincial and national governments.
The project includes an upgrade to the local water infrastructure under a current co-operation agreement with the municipality and a connection to the power utility Eskom’s power grid.