Platinum Group Metals Receives Mining Rights

Platinum Group Metals Ltd.(TSX:PTM,NYSE:PLG) reported the Department of Mineral Resources of South Africa has issued a mining right for the WBJV platinum mine.

As quoted in the press release:

This Mining Right is an important milestone and Platinum Group Metals now moves forward in a strong position. The WBJV Project 1 Platinum Mine is modeled to produce 275,000 4E ozs (platinum, palladium, rhodium and gold) per year at a steady state. The mine, located north of Rustenburg, is scheduled for a 22⁺ year mine life and will employ approximately 2,300 people. Maseve Investments 11 (Pty) Ltd. is the mine operating company and is 74% owned by Platinum Group Metals Ltd. and 26% by JSE listed Wesizwe Platinum Limited (JSE:WEZ).

Click here to read the Platinum Group Metals Ltd.(TSX:PTM) press release.