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FULLY CHINESE FUNDED

3rd May 2013

By: Martin Creamer

Creamer Media Editor

  

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The China Development Bank provided loan finance of $650-million for the development of Wesizwe Platinum’s Bakubung mine-and-concentrator-plant project in South Africa’s North West province. Construction of the 86-m-high headgear, on the western limb of the Bushveld Complex, near Rustenburg, will be completed by the end of this month and main commissioning is expected in the second quarter of 2018. Full output, at a rate of 350 000 oz of platinum-group metals a year for 35 years, is scheduled to begin in 2023. The 8.5-m-diameter, 230 000 t/m-hoisting-capacity main shaft will be sunk to 1 000 m. The site has access to 8 MVA of Eskom power, which is sufficient for the first phase, and a water-use agreement has been reached with Magalies Water. The China-Africa Jinchuan Investment consortium paid $227-million for 45% of the JSE-listed Wesizwe in 2011.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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