Following the undertaking of a feasibility study which started on November 21, 2025, platinum group metals (PGMs) developer Lesego Platinum is advancing its Phosiri Dome PGM project in Limpopo, with the appointment of mining consultancy SRK Consulting to lead a comprehensive feasibility study upgrade.

The new feasibility study work is aimed at converting earlier studies into a Cost Engineering and Project Controls Professionals-decision-ready feasibility package, addressing items required for capital raising and updated licensing requirements, such as a compliant reserve statement and the level of detail needed for environmental, waste and additional water authorisations.

Previous engineering defines a technically robust development pathway for the Phosiri Dome project with twin-shaft access that is matched to orebody geometry, with mechanised long-hole stoping in steeper zones and conventional methods in shallower dips.

Beneficiation, according to a previous engineering study, detailed a phased 250 000-t- a-month MF2 concentrator flowsheet. Lesego Platinum also notes that toll-concentrating options on the eastern limb of the Bushveld Complex are also being examined to lower peak funding requirements and improve project economics.

Project-enabling workstreams are also progressing in parallel, with environmental baseline work completed with clearly defined outstanding items. Multiple bulk- water supply options are under evaluation and surface-lease processes with the national Department of Agriculture, Land Reform and Rural Development have been scoped. These activities, Lesego Platinum notes, help compress the critical path to construction once the feasibility study is complete and financing is in place.

The Phosiri Dome project benefits from established regional roads, power and water access, and is backed by Chinese industrial solutions company Heaven-Sent Industrial Group, and South African execution capability.

Situated about 300 km north-east of Johannesburg on the eastern limb, Lesego is targeting the Merensky and Upper Group 2 reefs where the Phosiri Dome uplifts mineralisation to mineable depths, with “strong grades, mineable widths and continuity across the orebody”, states Lesego Platinum in a statement.

With the Phosiri Dome project, Lesego has a resource endowment of about 50-million ounces at an average grade above 5.5 g/t.