Platinum Group Metals Ltd. announced that Waterberg JV Resources (Pty) Ltd., the operating company of the Waterberg joint venture, has entered into an agreement with the Capricorn District Municipality to jointly develop a water supply management plan.
Platinum Group Metals Ltd. (TSX:PTM, NYSE American:PLG) announced that Waterberg JV Resources (Pty) Ltd., the operating company of the Waterberg joint venture, has entered into an agreement with the Capricorn District Municipality to jointly develop a water supply management plan to increase the water supply and infra structure capacity for both local community and Waterberg mine usage. This public-private partnership will benefit both the mine and the communities around the mining area.
As quoted in the press release:
Capricorn District Municipality has identified ground water resources proximal to the newly discovered Waterberg bulk mineable palladium-platinum-gold and rhodium project. At the pre-feasibility stage independent specialists identified potential water resources for both the mine and local communities. The joint responsible management of the water resources is the objective of the agreement.
An earlier, well executed work and drilling program conducted by the Capricorn District Municipality identified both potable and high mineral unpotable water resources in the district. Work by Waterberg JV Co. has also identified some potable water resources. The unpotable water is now targeted for industrial use and potable water could then be prioritized for communities.
Working together the parties can ensure the best value and use of the district water resources, including for communities, businesses and the Waterberg mine. Waterberg JV Co. has the requisite skills, expertise and resources to provide water supply solutions in the Capricorn District Municipality and to implement an agreed water management plan.
R. Michael Jones, CEO, commented:
We see this as an important step in the development of a large-scale palladium mine in Capricorn District Municipality to the benefit of all stakeholders including shareholders, communities and all levels of government.