JSE-listed Royal Bafokeng Platinum has advised that it has submitted an expression of interest with Platinum Group Metals regarding the Maseve mine.In this regard Royal Bafokeng Platinum has submitted an expression of interest with Platinum Group Metals relating to its Maseve business.
Royal Bafokeng Platinum has entered into discussions in this regard, which if successfully concluded may have a material effect on the company’s securities.
Accordingly, security holders are advised to exercise caution when dealing in the company’s securities until a further announcement is made.
In July Platinum Group Metals said it was taking steps to restructure its mining method at the Maseve mine in South Africa to reduce costs and minimise job losses.
The restructuring by Platinum Group Metals was to involve a change in primary mining method and cost reductions to create a sustainable future for the mine.
The changes are operationally driven to align costs with a more gradual ramp-up of production using more selective mining methods.
The Maseve mine has good potential in terms of grades, underground developed access, completed infrastructure and a mill that operates in accordance with design criteria.
As a result of the anticipated restructuring process, there are a large number of employees in the service of independent contractors and staff of Maseve who could be affected.
Feature image credit: Platinum Group Metals