https://www.miningweekly.com

Hanwa to join PTM, Jogmec in Waterberg JV

9th March 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JOHANNESBURG (miningweeky.com) – Japan Oil, Gas and Metals National Corporation (Jogmec) has signed a memorandum of understanding (MoU) with global trading company Hanwa for the transfer of a part of Jogmec’s interest in the Waterberg Joint Venture (JV) project, in the Bushveld Complex, to Hanwa.

The platinum/palladium/rhodium/gold/nickel/copper project is jointly owned by Jogmec, Platinum Group Metals (PTM), black economic empowerment partner Mnombo Wethu Consultants and Impala Platinum (Implats).

Jogmec currently holds a 21.95% interest in the project and is planning to transfer a 9.755% interest to Hanwa.

Upon completion of the transfer, Hanwa will also acquire Jogmec’s right of first refusal to certain metal produced by platinum producer Implats from the Waterberg project.

Hanwa on February 23 won a public tender to acquire an interest in the project. Jogmec and Hanwa will now start negotiations on the terms of the transfer of a part of Jogmec's stake in the Waterberg JV. 

If negotiations are concluded successfully, Hanwa will secure the right to a supply of refined platinum group metals for exhaust emission catalytic converters, fuel cells for cars, and nickel and other metals for rechargeable batteries. This transaction will enable a potential significant stable supply of metals to Japanese industries.

PTM CEO Michael Jones says Hanwa’s experience in the global metals and industrial complex will add another dimension to the JV.

“We acknowledge that Jogmec is satisfying its mandate and is following its stated desire to secure critical mineral supplies to Japanese companies and industry.”

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.109 0.151s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: