Wesizwe Expects Cost of Platinum Mine to Rise

Mining Weekly reported Wesizwe (PINK:WSZWF) is now expected a new Bakubung platinum mine to cost R12 billion.

As quoted in the market news:

South Africa’s JSE-listed Wesizwe agreed a financing deal with Jinchuan, of China, and the China-Africa Development Fund (CADFund) in May last year, when the China-Africa Jinchuan Investment consortium paid $227-million for 45% of Wesizwe and undertook to provide $877-million in funding for the former Frischgewaagd-Ledig project, which has since been renamed the Bakubung platinum mine project.

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