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PTM Signs Binding Offtake Agreement with RPM for Bushveld JV Project
Apr. 25, 2013 03:34PM PST
Precious Metals Investing
Mining Weekly reported that Maseve Investments, 74% owned by Platinum Group Metals (PTM), has signed a life-of-mine concentrate offtake agreement with Amplat’s subsidiary, Rustenburg Platinum Mines (RPM) for the Western Bushveld JV Project 1 mine.
Mining Weekly reported that Maseve Investments, 74% owned by Platinum Group Metals (PTM), has signed a life-of-mine concentrate offtake agreement with Amplat’s subsidiary, Rustenburg Platinum Mines (RPM) for the Western Bushveld JV Project 1 mine.
As quoted in the news article:
Maseve would sell all concentrate from Project 1 to RPM for the life-of-mine, with RPM required to purchase and take delivery of all concentrate.
The agreement, which stipulated that the concentrate be delivered to a smelter in Rustenburg, would come into effect when the initial delivery of concentrate from Project 1 took place, and covered the Merensky and UG2 ores.