TSX- and NYSE American-listed Platinum Group Metals (PTM) has filed a mining right application for its joint venture (JV) Waterberg platinum group metals project, in South Africa.
The application was submitted to the Department of Mineral Resources and comprised the mining work programme, a social and labour plan and associated environmental applications.
PTM is the operator of the Waterberg project, which is a JV with Impala Platinum, the Japan Oil, Gas and Metals National Corporation and Mnombo Wethu Consultants.
“The filing of the mining right application represents a significant milestone in the evolution of the Waterberg project. First discovered in 2011, Waterberg has grown both in scale and stature to become a significant mineral asset and a rare, large-scale, low-cost primary palladium deposit.
“The project has the potential to positively impact South Africa’s economic development, creating high-value jobs and skills training opportunities for local residents. We look forward to ongoing interaction with all of our stakeholders, including government, local communities and our JV partners to help ensure the successful development and operation of the Waterberg project,” PTM president and CEO R Michael Jones commented on Tuesday.
A definitive feasibility study on the project is currently under way and is expected to be completed in the first quarter of 2019.