Pallinghurst Resources Ltd. (OTC Pink:PLLHF) announced that by consolidating its platinum group metals interests and bringing them together with its co-investors and the Bakgatla Ba Kgafela Tribe, it has created Sedibelo Platinum Mines Ltd., an entirely new entity. As a result of the consolidation, South Africa’s Industrial Development Corporation was able to complete its US$368 million investment in Sedibelo.
According to the press release, the benefits of the consolidation and investment include:
- The creation of a large and contiguous ore‐body which will allow for the development of a safe and shallow mining complex, with a long life;
- Creates an unhedged and debt‐free producer, with a strong balance sheet;
- Unlocking synergies and benefitting from anticipated rapid organic growth with associated job creation;
- Reinforces the strong partnership with the Bakgatla community which is also the Sedibelo Platinum Mines BEE partner; and
- Opportunity to partner with the IDC to form a joint venture to explore and develop opportunities for energy efficient PGM beneficiation.
“South African Platinum Supplies Are Declining. What Should Investors
Do To Profit From This Trend?”
Get the latest update on the platinum market. Click below
to get your FREE market report.