Platinum Group Metals Ltd. announces a 20% increase in Waterberg Mine's mineral reserves and extended mine life to 54 years.
Platinum Group Metals Ltd. reported favorable outcomes from its 2024 Definitive Feasibility Study for the Waterberg Mine in South Africa. The study raised mineral reserves by 20% to 23.41 million ounces and extended the mine's life from 45 to 54 years. Expected production averages 353,208 ounces annually, with a peak of 432,950 ounces. The project has a capital cost of $946 million and an internal rate of return of 14.2%, but faces challenges in securing smelting agreements.
September 16, 2024
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