MEDIUM-TERM FOCUS
The fully funded Bakubung platinum project – the flagship of the JSE-listed Jinchuan-invested Wesizwe Platinum – taking shape near Rustenburg in the North West province, has its sights set on the medium term, when new COO Paul Smith expects platinum prices to have recovered from the current $1 752.69/oz to more like $2 000/oz, boosted by a global undersupply and growing demand, especially from China. Bakubung is being constructed on a virgin orebody that is said to contain competitive ore grades. The China Development Bank approved a $650-million loan for Bakubung development, which CEO Jianke Gao says sends a positive signal at a challenging time.
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