Platinum Group Metals (TSX:PTM)(NYSE MKT:PLG) (“Platinum Group” or the “Company”) is taking steps to restructure its mining operations at the Maseve Mine in South Africa.
The restructuring would involve a change in primary mining method and cost reductions to create a sustainable future for the mine. The changes are operationally driven to align costs with a more gradual ramp-up of production using more selective mining methods.
R. Michael Jones, CEO, Platinum Group, said:
“We see good potential for a sustainable mine at Maseve. The South African government and the local community have been very supportive of the Maseve Mine, and we deeply value their assistance and support.
We will work with our contractors, employees and other stakeholders in a climate of mutual respect, as we transition through the proposed restructuring process.”