Ivanplats Limited (TSX:IVP) announced its financial results for the quarter ended September 30, 2012 and an overview of its projects, including the Platreef project.
As quoted in the press release:
The Platreef Project, in the Limpopo province of South Africa, is 90%-owned by Ivanplats and 10%-owned by a Japanese consortium of Itochu Corporation; Japan Oil, Gas and Metals National Corporation (JOGMEC) and JGC Corporation. The Japanese consortium’s 10% interest in the Platreef Project was acquired in two tranches for a total investment of $290 million.
The Platreef Project includes a recently discovered underground deposit of thick, PGE-nickel- copper mineralization in the Northern Limb of the Bushveld Complex, approximately 280 kilometres northeast of Johannesburg.