Discussing the challenges facing the platinum industry, Hamlet Morule, Wesizwe’s corporate affairs and investor relations executive says, “Time is on our side”, while “The advantage for Wesizwe’s Bakubung platinum mine is that we will have an opportunity to monitor trends and plan ahead before we begin production.” Mining Review Africa reports.
The Bakubung platinum mine, located on the Western Limb of the Bushveld Igneous Complex, north of the City of Rustenburg in the North West Province, is expecting to reach full production by 2023. The mine will have a life span of 35 years and will produce 350 000 ozpa of platinum group metals (PGMs) by 2023. The project has a highly favourable prill split of 63.2% platinum, 27.1% palladium, 7.3% rhodium and 2.4% gold.
Nevertheless, Wesizwe is hoping to fast-track the development of Bakubung and the board is currently reviewing the results of an optimisation study that could bring the mine into production sooner. “I believe that the timing of this optimisation plan will come in quite handy. It is still early days, so we still have the whole of 2014 into 2016 to make sure that, as we deliver on the project we consider all other aspects needed to be prepared in order to ensure an earlier production date,” says Morule.