https://www.miningweekly.com

PTM starts drilling for Waterberg feasibility study

3rd April 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Platinum Group Metals (PTM) is advancing its Waterberg platinum and palladium project to feasibility stage (FS) along with partner Japan Oil, Gas and Metals National Corporation (Jogmec).

The FS is currently out to tender with several well-known specialist engineering firms. Under a current commitment, Jogmec, which holds 28.35% in the project, will fund $5.3-million towards the completion of the FS.

PTM CEO R Michael Jones noted that a prefeasibility study (PFS) has already modelled the Waterberg project in a strong, globally competitive position as one of the very few large-scale, primary palladium mines at a time when the market for palladium is very strong.

The PFS last year modelled a 744 000 oz/y platinum, palladium, gold and rhodium (4E) mine with an 18-year life. On a 100% project basis, using a 2.5 g/t cut-off grade, the PFS estimated probable reserves of some 12.32-million ounces of platinum, palladium, rhodium and gold (4E) at Waterberg.

The deposit's shallow depth, good grade and fully mechanised mining approach, places the project in the lowest quartile of the South African 4E industry cost curve. The project reserves comprise 61.4% palladium and the PFS estimated that Waterberg could produce 472 000 oz/y of palladium.

Drilling targeted at the conversion of indicated resources into measured resources will restart this month, with geotechnical drilling for assessing the locations for foundations and mine excavations also being planned along with further metallurgical drilling to refine recovery curves and plant designs.

Detailed mine planning and scheduling will be completed using a new resource model following the fill-in drilling described above.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

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:0.258 0.29s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: