Business Services Industry
SOUTH AFRICA: Joint venture plans for proposed $62,000,000 to $87,000,000 platinum group metals development project, ANGLOVAAL MINING LTD. (AVMIN) & IMPALA PLATINUM HOLDINGS LTD. (IMPLATS) [South Africa] - Order #: 075101.
WWP-Business Opportunities in Africa & the Middle East, July, 2001
PROJECT OVERVIEW:
A South African joint venture was recently established in view of developing a platinum group metals mine in Mpumalanga Province, South Africa. The partners in the planned undertaking and their respective shareholdings include ANGLOVAAL MINING LTD. (AVMIN - 55%) and IMPALA PLATINUM HOLDINGS LTD. (IMPLATS - 45%).
According to the terms of the agreement, the partners are planning to develop, manage and operate a deposit located at Dwars River adjacent Lydenburg. Mining operations envision a run-of-mine production output of 1.4 million ton per year providing a yield ranging between 160,000 and 170,000 ounces of concentrate per annum. At such a rate of production the mine life is expected to last for about 20 years.
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