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Large Scale Platinum Positions in the Heart of the World's Platinum Mines
Platinum Group Metals Ltd. is based in Vancouver, BC, Canada and Johannesburg, South Africa. Platinum Group has a solid management team with successful track records and more than 20 years in exploration, mine discovery, mine construction and mine operations.
The Company was formed in 2000 and is focused on the development of platinum operations. It holds significant mineral rights in the Bushveld Igneous Complex of South Africa, host to 80% of the World's platinum production. View a demonstration of how the Bushveld was formed.
The Company is focused on moving its first, high-grade, near-surface Western Bushveld Joint Venture (WBJV) platinum deposit to production. The issuance of the Mining Right for the project on April 4, 2012 was an important milestone, allowing the Company to move forward with its development plans for the robust project.
An updated feasibility study was completed in October of 2009. Construction of the WBJV Platinum Mine started in January 2011 with a $100M USD first phase program focused on decline construction and underground development. In August 2011 a project loan mandate was awarded for a $260M USD senior loan facility. In December 2012 the banks received credit committee approval for the loan and closing and draw down of the loan facility is now subject to the negotiation and execution of final documentation and satisfaction of conditions precedent.
Platinum Group is active in platinum exploration in South Africa and Canada. The current focus for exploration is the Waterberg discovery on the North Limb of the Bushveld Complex. The Waterberg Project is partnered with JOGMEC (Japan Oil and Gas Mineral Exploration Corporation) a state owned company.