| South Africa |
| Western Bushveld JV |
| Quick Facts |
| Milestones |
| History |
| Geology |
| Resources |
| Engineering Status |
| Agreements & Funding |
| Northern Limb |
| Sable Joint Venture |
| Canada |
Western Bushveld JV: History
Platinum Group began to acquire platinum properties in South Africa in 2002, beginning with the War Springs Property on the North Limb of the Bushveld Complex and the Elandsfontein Property on the Western Limb.
In October 2004, Platinum Group announced the formation of the Western Bushveld Joint Venture with Anglo Platinum and Africa Wide Mining (now Wesizwe Platinum) in order to assemble a large undeveloped property hosting near surface reef potential in the platinum-rich Western Limb of the Bushveld complex of South Africa.
Bringing together Platinum Group's Onderstepoort and Elandsfontein properties along with portions of Anglo Platinum's Elandsfontein, Frischgewaagd and Koedoesfontein properties resulted in a large consolidated land position directly on-strike from known mines on the platinum producing Merensky and UG2 reefs.
The strategic nature of the Western Bushveld Joint Venture land position cannot be overemphasized and is the manifestation of exactly the vision for which Platinum Group has been building itself since beginning work in South Africa in 2002.
Platinum Group vested its original 37% interest in the WBJV from November 2004 to February 2006 by expending approximately US $5.7 million on project exploration. Subsequent expenditures were funded pro-rata by Wesizwe (26%), Anglo Platinum (37%) and Platinum group (37%) until the April 22, 2010 WBJV reorganization. In the reorganization Platinum Group and Anglo Platinum each sold their 18.5% interests in Project 2 to Wesizwe. Platinum Group acquired an additional 17.75% in Projects 1 and 3 and a right to acquire a further 19.25% to go to a 74% interest. Wesizwe Platinum retained their original 26% interest in Projects 1 and 3 and with the 37% of Project 2 acquired from Anglo Platinum and Platinum Group they reached a 100% interest in that project. For full details see news release dated April 22, 2010.
As the operator of the Western Bushveld Joint Venture since 2004, Platinum Group has developed a strong technical and management team headquartered in our Johannesburg office. The partners invested approximately $38 million in the WBJV to the completion of the definitive feasibility study in July 2008 and approximately $6 million dollars more to April 22, 2010.
