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Platinum Group Metals Announces Diversified Japanese Trading Company Hanwa to Join Waterberg Joint Venture
Mar. 09, 2018 08:47AM PST
Precious MetalsPlatinum Group Metals (TSX:PTM) (NYSE American:PLG) (“Platinum Group” or the “Company”) is pleased to announce that on March 8, 2018, Japan Oil, Gas and Metals National Corporation (“JOGMEC”) and Hanwa (“Hanwa”) signed a memorandum of understanding to transfer part of JOGMEC’s interest in the Waterberg Palladium, Platinum, Gold, Rhodium (“PGM”) and Copper, Nickel Project, located in the Bushveld Complex of the Republic of South …
Platinum Group Metals (TSX:PTM) (NYSE American:PLG) (“Platinum Group” or the “Company”) is pleased to announce that on March 8, 2018, Japan Oil, Gas and Metals National Corporation (“JOGMEC”) and Hanwa (“Hanwa”) signed a memorandum of understanding to transfer part of JOGMEC’s interest in the Waterberg Palladium, Platinum, Gold, Rhodium (“PGM”) and Copper, Nickel Project, located in the Bushveld Complex of the Republic of South Africa.
The agreement is based on the result of a public tender held on February 23, 2018. The winner of the bidding was Hanwa, and JOGMEC will now start negotiation on the terms of the transfer with Hanwa.
With a successful negotiation, Hanwa will secure the right to a supply of refined platinum group metals for exhaust emission catalytic converters, fuel cells for cars, and nickel and other metals for rechargeable batteries.