Waterberg Project Feasibility Study Shows 20% Reserve Increase and Enhanced Economics
TL;DR
Platinum Group Metals' updated DFS shows a 20% reserve increase and lower costs, offering investors a competitive edge with enhanced project economics and extended mine life.
The updated DFS by Stantec and DRA incorporates engineering enhancements that reduced capital and operating costs while streamlining the construction and ramp-up schedule.
The Waterberg Project's 54-year mine life supports long-term economic stability and job creation in South Africa through sustainable resource development.
Platinum Group Metals discovered a massive 23.41 million ounce deposit containing platinum, palladium, rhodium and gold in South Africa's Waterberg Project.
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Platinum Group Metals Ltd. has released an updated Definitive Feasibility Study for its Waterberg Project, demonstrating substantial improvements in both reserve estimates and project economics. The study, prepared by leading engineering firms Stantec and DRA with project management oversight from South Africa-based Fraser McGill, represents a comprehensive update to the original 2019 Waterberg DFS. The updated study reveals a 20% increase in proven and probable mineral reserves, now totaling 23.41 million ounces of combined platinum, palladium, rhodium and gold across a projected 54-year mine life.
This significant reserve expansion underscores the project's long-term potential and resource stability. The enhanced reserve base positions Waterberg as a substantial contributor to the global platinum group metals market for decades to come. Beyond the reserve growth, the feasibility study incorporated several technical enhancements that have resulted in meaningful cost reductions. Both capital and operating costs have been lowered through optimized engineering designs and streamlined project execution strategies. The construction and ramp-up schedule has also been refined, potentially accelerating the project's path to production while maintaining operational efficiency.
The Waterberg Project, discovered by Platinum Group Metals, represents a bulk underground palladium and platinum deposit located in South Africa. The project is being jointly developed with partners Implats, Mnombo and HJM, combining technical expertise and financial resources to advance one of the world's significant platinum group metal developments. For additional information about the company and its projects, visit https://www.PlatinumGroupMetals.net.
The updated feasibility study's positive outcomes come at a time when global demand for platinum group metals remains strong, particularly in automotive catalytic converters and emerging hydrogen economy applications. The improved economics and expanded resource base enhance Waterberg's competitive position within the global mining sector, potentially attracting additional investment interest and partnership opportunities. The project's extended mine life and cost efficiencies provide greater certainty for long-term production planning and market supply stability.
Curated from InvestorBrandNetwork (IBN)
