Chinese Funds Wesizwe R6,6bn for Platinum Mine

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Mon, May 24, 2010

Platinum Market News
Post by Mike Rodger, Platinum Reporter

Wesizwe Platinum Limited (Wesizwe), South African platinum junior mining company, has announced that it has signed an agreement with Chinese consortium to finance it with a R6,6-billion, or $877-million, debt and equity financing package that would fund the development of its flagship Frischgewaagd-Ledig project.

Wesizwe CEO Michael Solomon confirmed that this transaction can bring in mining expertise and cost-effective financing.

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