Nkwe Platinum Ltd Garatau Platinum Project sees 300 percent Increase in Resource Estimate
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.
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(Edited by Gabe Perna)