Nkwe Platinum Ltd Garatau Platinum Project sees 300 percent Increase in Resource Estimate

By Admin
The resource estimate on the Garatau platinum project in South Africas Bushveld Complex has been increased by 300 percent through a bankable feasibility...
Garatau platinum projectSouth Africa’s Bushveld Complexincreased by 300 percent

According to Nkwe Platinum Ltd, an ASX-listed company, Garatau’s expected potential is now 14,2 million ounces of platinum group metals and gold, and 9,1 million ounces of inferred resources.

The Garatau project study estimates an average production of 240,000 t/m – 400,000 t/m, with an estimated mine life of 40 years, says Nkwe Platinum. The cash cost of the average life of mine is US$435/oz – US$535/oz, based on a current 3PGM=Au basket price of approximately US$1,200/oz. Mine construction is planned to begin in 2011 and to be fully on line by 2016.

Nkwe Platinum has a joint agreement with Xstrata to collaborate on the Tabatse-Garatau project. The latter would have the option to fund the development of two mines and a concentrator, according to the company, with an overall goal of producing one million ounces of PGMS a year. With the estimate upgrade, Nkwe Platinum is in a good spot to firm up the joint-venture agreement with Xstrata.

Learn more at: Proactive Investors

(Edited by Gabe Perna)

Share
Share

Featured Articles

Alfa Laval to supply world’s largest green hydrogen plant

The facility is being built in NEOM, the US$500bn futuristic city being developed in Saudi Arabia

COP27 agrees to climate compensation fund

The deal is said to be a historic first in acknowledging the vast inequities of the climate crisis

North America's natural gas can help mitigate energy crisis

In the effort towards decarbonisation, North America could be a key player in providing affordable natural gas, addressing energy security issues

COP27: Egypt and Norway to build 100MW green hydrogen plant

Renewable Energy

Renewable energy company Masdar opens office in Saudi Arabia

Renewable Energy

Ørsted closes US$140m transaction with ECP for US portfolio

Renewable Energy