JOHANNESBURG (miningweekly.com) – JSE-listed midtier platinum producer Northam Platinum would spend R3-billion over five years to develop the first module of its new Booysendal mine, on which construction would start in the first half of 2010.

The company reported on Thursday that the feasibility study at the Booysendal project was complete and that the final board approval for the project would likely be given early next year.

“The feasibility study has confirmed our approach to the project. Booysendal is living up to our expectations and is likely to be a significant, long-life producer, and one of the new-generation PGM mining projects of the future,” Northam CEO Glyn Lewis commented.

First concentrate from module one of the project was expected in 2013, with the project building up to full production of about 130 000 oz/y of platinum palladium, rhodium and gold (3PGM+Au) by 2015.

The second module, which was estimated to cost a further R3-billion, would increased production by 150 000 oz of 3PGM+Au.

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