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Platinum Today reported that Nkwe Platinum Ltd. (ASX:NKP) plans to form a strategic partnership with China’s Zijin Mining Group Company Ltd. (HKEX:2899) in order to further develop Nkwe’s South Africa-based platinum-group metals assets.
Platinum Today reported that Nkwe Platinum Ltd. (ASX:NKP) plans to form a strategic partnership with China’s Zijin Mining Group Company Ltd. (HKEX:2899) in order to further develop Nkwe’s South Africa-based platinum-group metals assets.
As quoted in the market news:
Zijin, which is the largest gold miner in China, will invest $20 million in Nkwe through its wholly-owned subsidiary Jin Jiang Mining.
A first tranche of $7 million will be issued by October 23rd 2013, while a second investment of $13 million will made by the end of the year.
Nkwe Platinum managing director Maredi Mphahlele said the strategic partnership will allow Nkwe to fulfil its key goals of developing its world class platinum group metal assets and becoming a significant producer of platinum group metals.