“In order for the Waterberg concentrate to be processed in Saudi Arabia, a long-term export approval to ship concentrate from South Africa is required,” he wrote in a note to clients on Wednesday. “It is all conditional on the South African government granting the export permit.”
The partnership with Ajlan & Bros, an investment holding company with more than $15 billion in assets under management, includes a $4 million feasibility study split 50:50. There’s an option to form a joint venture to secure concentrate offtake from Platinum Group’s Waterberg PGM project.
The project’s September feasibility study estimates a 54-year mine life, with steady combined production of platinum, palladium, rhodium and gold (4E) of 353,208 oz. per year, peaking at 432,950 ounces.
Ore export ban
The company said it’s still negotiating with South African authorities. PGM wants to explore local beneficiation…
