Wesizwe Platinum Signs $877M Deal with China for its Frischgewaagd-Ledig project
Johannesburg-listed platinum developer, Wesizwe Platinum Limited has announced that Jinchuan, China’s No 1 miner of nickel, and also platinum group metals (PGMs) including China Africa Development Fund, (CADFund) has signed a USD 877m agreement for a “total financing solution” in its Frischgewaagd-Ledig project, near the well known Sun City resort north of Pretoria.
Wesizwe Platinum Chief Executive, Michael Solomon is quoted saying:
“On 22 April 2010, the Department of Mineral Resources awarded the final Section 11s for the Frischgewaagd-Ledig project, effectively enabling the awarding of the mining right over the project area, and I am exceptionally pleased that the project will be further derisked, through this transaction, with the provision of the total financing solution.”
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Tue, May 25, 2010
Post by Mike Rodger, Platinum Reporter