Wesizwe Platinum

From Wikipedia, the free encyclopedia - View original article

Wesizwe Platinum
IndustryMining
Websitewww.wesizwe.co.za
 
Jump to: navigation, search
Wesizwe Platinum
IndustryMining
Websitewww.wesizwe.co.za

Wesizwe Platinum is a mining business in South Africa. It has significant platinum group metal deposit on the Bushveld Igneous Complex.[1][2][3][4]

Frischgewaagd-Ledig[edit]

Wesizwe has access to substantial platinum reserves at the Bakubung platinum mine site near Rustenburg in the Western limb of the Bushveld Igneous Complex.[5] It is expected to produce 350,000 ounces of Platinum group metals per year.[6]

In May 2011, a financing deal worth nearly $1bn was agreed with a consortium of Chinese investors;[7][8] Wesizwe now has the Jinchuan Group and CADFund as its major shareholders.[9] This deal would allow work to start on platinum production at the Bakubung Platinum Mine[10][11]

In January 2013, Wesizwe Platinum confirmed that it had received a $650 million loan from the China Development Bank for the development of the Bakubung project. Part of the loan would be used to refund two separate $100-million short-term loans, which CDB and Wesizwe signed in December 2012.[12]

References[edit]

External links[edit]