PERTH (miningweekly.com) − Platinum developer Nkwe Platinum would likely secure a joint venture (JV) partner for its Garatau platinum project in South Africa before the end of the year, MD Maredi Mphahlele told Mining Weekly Online on Friday.

He could not disclose the exact number of parties that Nkwe was in discussions with, but said that there was “huge interest” in the project.

“I can’t say how many we are speaking to, as I’m under embargo, but there is huge interest in the project and we will make an announcement at the proper time,” Mphahlele said in an interview on the sidelines of the Africa Downunder conference, in Perth.

In July, Nkwe pushed back the release of its bankable feasibility study, which was initially expected in May this year, as the company reviewed the base case development with an eye to bring in a JV partner.

Mphahlele told Mining Weekly Online that the bankable feasibility study had investigated a range of development options for Garatau, placing project development costs at between R3-billion and R8-billion.

He noted that the part of the discussions with the JV partners included securing development funding for the Garatau project.

The 23.3-million ounce Garatau platinum project was likely to be converted into a 400 000-oz/y operation. Mphahlele said that Nkwe had submitted its mining licence application to the Department of Mineral Resources, and was hoping to start up operations at Garatau by 2012.

Along with the much-contested Tubatse project, Nkwe would deliver some one-million ounces a year.

The Tubatse project has been the subject of much contention since the South African Constitutional Court in December stripped Nkwe’s black economic-empowerment partner Genorah Resources of prospecting rights on two farms which form part of the Tubatse project.

The court set aside the prospecting rights on the Nooitverwacht and Eerste Geluk farms on the grounds that Genorah did not communicate properly with the Bengwenyama community.

Since that time, Genorah has regained its rights over both farms; however, the awarding of the prospecting rights for the Eerste Geluk farm has again been met with discontent, as the Bengwenyama community vowed to appeal the decision.

Mphahlele on Friday confirmed that the matter has now once again been referred to court.
 

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