Jogmec reiterates support to finalise funding for Waterberg project

12th May 2022 By: Marleny Arnoldi - Deputy Editor Online

Canadian miner Platinum Group Metals (PTM) has signed a memorandum of understanding (MoU) with fellow shareholder in the Waterberg palladium project – Japan Oil, Gas and Metals National Corporation (Jogmec) – to accelerate financing opportunities for the project.

During a meeting on the sidelines of Investing in African Mining Indaba, in Cape Town, on May 10, representatives of Jogmec and PTM discussed finance and development plans for the project, with Jogmec expressing its intention to maintain its interests in the project and to support funding contributions for the project development.

PTM president and CEO Frank Hallam says the company is encouraged by the declaration of support from its Japanese partners.

“The current geopolitical situation has reinforced the importance of establishing a secure and ethically sourced supply of platinum and palladium for the world.”

PTM is working with Jogmec and another shareholder in the project, Hanwa, to secure and finalise a funding package for the project.