Wesizwe's flagship mine could reach full production two years ahead of schedule
RUSTENBURG (miningweekly.com) – JSE-listed Wesizwe Platinum planned to table for board approval the results of an optimisation study, which could enable its flagship Bakubung mine to ramp up to full production two years earlier than scheduled.
The study, currently under way, would see the Rustenburg-based operations achieve a maximum output of 350 000 oz/y of platinum by 2021, instead of the currently expected third quarter of 2023, said Bakubung GM Eddie Mohlabi.
The development of Bakubung was currently on schedule and within budget, with first production scheduled for the first quarter of 2018.
However, the optimisation plan, if adopted, could allow start-up as early as 2017, although Wesizwe corporate affairs and investor relations executive Hamlet Morule declined to provide a firmer timeline.
The platinum miner had also reviewed the original processing plant feasibility study.
Meanwhile, Wesizwe said it was currently finalising the terms and conditions of a $650-million loan facility that was approved by the China Development Bank in January. The miner added that it had secured two further $100-million loan facilities.
This comes as Wesizwe decided not to fund its 26% initial cash call share of the Western Bushveld joint venture (WBJV) Project 1 with TSX- and NYSE-listed Platinum Group Metals (PTM), as Wesizwe planned to inject all funds into its flagship operation.
Morule said it was likely the move would result in a dilution of Wesizwe's stake to 22.4%; however, WBJV operating company Maseve earlier indicated that Wesizwe’s interest would be diluted to 21%.
PTM planned to move ahead with the project despite having previously warned that construction and work at the mine could come to a halt.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...
VISIT SHOWROOM
Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
