International news within the industry of mining and metal, Jan, 18 2019
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South African platinum producer pockets $58M for mine sale

Photo: Platinum Group Metals
Photo: Platinum Group Metals
Published by
Jaroslaw Adamowski - 13 Apr 2018

South Africas Platinum Group Metals has obtained $58 million from the sale of the Maseve concentrator plant and certain surface rights of Maseve Investments 11 Ltd to platinum producer Royal Bafokeng Platinum, and is to obtain a further $16 million from the transaction. 

 

Platinum Group Metals said in a statement that the funds were "used to settle outstanding contractor claims and reduce outstanding indebtedness".

 

Platinum Group Metals is focused on its Waterberg Project, a bulk mineable underground deposit in northern South Africa with potential to be a low cost dominantly palladium mine, according to data from the firm.

 

Royal Bafokeng Platinum is listed on the Johannesburg Stock Exchange (JSE). The company says it is a mid-tier platinum group metals producer that originates from a joint venture between Anglo American Platinum and Royal Bafokeng Rasimone platinum mine JV.

Since the completion of the first test shipments in July 2018, Rio Tinto increased the number of autonomous tours along the Groups iron ore lines in Western Australia in a controlled manner. Now, Rio Tintos trains have travelled over one million kilometres completely autonomously. Photo credit: Rio Tinto company
Since the completion of the first test shipments in July 2018, Rio Tinto increased the number of autonomous tours along the Groups iron ore lines in Western Australia in a controlled manner. Now, Rio Tintos trains have travelled over one million kilometres completely autonomously. Photo credit: Rio Tinto company

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