Oilprice.com reported that in light of South African strikes and Russian sanctions, the platinum sector is looking for new areas of exploration, and New Zealand could be one of them. Canada’s Coronado Resources (TSXV:CRD) has secured five exploration licenses in the country.
As quoted in the publication:
Intriguingly, these areas have been past produces of platinum. Albeit at a small-scale, through alluvial mining operations that ran during the late 19th century through to the early 20th century. The source of this alluvial platinum has never been identified. But there are mapped ultramafic complexes known across the South Island–of the type that host major platinum deposits like South Africa’s Bushveld deposit.