| Canada's PGM expects new mine to produce 275,000 oz by 2017 | |
| | |
|
CAPE TOWN, Feb 11 (Reuters) - Canadian miner Platinum Group Metals (PGM) plans to begin production at its new $500 million South African mine by next year before ramping up to full production of 275,000 ounces a year in 2017, its CEO said. The shallow Western Bushveld mine situated in the platinum rich belt close to Rustenberg in the North West province. South Africa's Bushveld Complex is estimated to contain about 90 percent of the world's platinum resources. "This is really the last big piece of Merensky reef available above a thousand meters," said Michael Jones, the chief executive of PGM told Reuters on the sidelines of an African mining conference. South Africa's platinum industry, which is the world's top producer of the white metal used for emissions-capping catalytic converters in automobiles, is still recovering from last year's record five-month strike that cut production. (Reporting by Wendell Roelf; Editing by James Macharia)
|
|
|
Platinum Group metals Ltd
|
|
DEVELOPMENT STAGE |
CODE : PTM.TO |
|
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Platinum Group Metals is a platinum development stage company based in Canada. Platinum Group Metals holds various exploration projects in Philippines. Its main asset in development is WESTERN BUSHVELD JV in South Africa and its main exploration properties are AGNEW LAKE and LAC DES ILES in Canada, WAR SPRINGS and TWEESPALK in South Africa and ACT (ADLAY CAGDIANAO TANDAWA NICKEL) in Philippines. Platinum Group Metals is listed in Canada and in United States of America. Its market capitalisation is CA$ 246.2 millions as of today (US$ 179.9 millions, € 168.1 millions). Its stock quote reached its highest recent level on November 30, 2012 at CA$ 9.90, and its lowest recent point on June 15, 2018 at CA$ 0.12. Platinum Group Metals has 133 070 008 shares outstanding. |