Nkwe and Xstrata have a joint agreement for the site in South Africa’s Bushveld Complex
By Sarah Wolfe
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The resource estimate on the Garatau platinum project in South Africa’s Bushveld Complex has been increased by 300 percent through a bankable feasibility study.
According to Nkwe Platinum Ltd, an ASX-listed company, Garatau’s expected potential is now 14,2 million ounces of platinum group metals and gold, and 9,1 million ounces of inferred resources.
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.
Learn more at: Proactive Investors
(Edited by Gabe Perna)