Waterberg Project Advances as Platinum Group Metals Ltd. Reports Progress Toward Major South African Mine

Platinum Group Metals Ltd. is making significant progress toward developing the Waterberg Project, a planned fully mechanized underground mine in South Africa positioned to become one of the world's largest and lowest-cost platinum group metals operations. The company reported financial results for the six-month period ending February 28, 2025, and reaffirmed its commitment to advancing the project. The Waterberg mine is expected to produce multiple critical metals, including platinum, palladium, rhodium, gold, and by-product copper and nickel, addressing growing global demand for these essential resources.

Strategic near-term objectives include securing construction financing and establishing concentrate offtake agreements, crucial steps for transforming the project from an exploratory venture to an operational mining enterprise. The Waterberg Project, originally discovered by Platinum Group Metals, is being jointly developed with partners Implats, Mnombo, and HJM, representing a comprehensive strategy for developing what could become a significant global PGM production site. This collaborative approach enhances the project's potential for successful implementation and long-term viability in the competitive mining sector.

Beyond the core mining operations, the company is pursuing innovative technological research through Lion Battery Technologies, exploring potential applications of platinum and palladium in lithium battery technology. This research initiative involves collaboration with Anglo American Platinum and Florida International University, potentially opening new markets for platinum group metals beyond traditional industrial applications. The integration of mining operations with advanced research demonstrates a forward-looking approach to metal utilization and market development.

The potential impact of the Waterberg Project extends far beyond immediate mining operations, as global demand for critical metals used in renewable energy, electric vehicles, and advanced technologies continues to accelerate. Projects like Waterberg could play a pivotal role in meeting future resource requirements for the global transition to cleaner energy systems and technological advancement. The project's scale and cost efficiency position it as a potentially significant contributor to global PGM supply chains, with implications for multiple industries dependent on these critical materials for manufacturing and innovation.