Wesizwe Platinum Explained

Wesizwe Platinum
Industry:Mining

Wesizwe Platinum is a mining business in South Africa.It has significant platinum group metal deposit on the Bushveld Igneous Complex.[1] [2] [3] [4]

Frischgewaagd-Ledig

Wesizwe has access to substantial platinum reserves at the Bakubung platinum mine site near Rustenburg in the Western limb of the Bushveld Igneous Complex.[5] It is expected to produce 350,000 ounces of Platinum group metals per year.[6]

In May 2011, a financing deal worth nearly $1bn was agreed with a consortium of Chinese investors;[7] [8] Wesizwe now has the Jinchuan Group and CADFund as its major shareholders.[9] This deal would allow work to start on platinum production at the Bakubung Platinum Mine.[10] [11]

In January 2013, Wesizwe Platinum confirmed that it had received a $650 million loan from the China Development Bank for the development of the Bakubung project. Part of the loan would be used to refund two separate $100-million short-term loans, which CDB and Wesizwe signed in December 2012.

External links

Notes and References

  1. Web site: Sacked Wesizwe CEO scrapes back in pyrrhic victory. 2010-12-18. 2010-12-18.
  2. Web site: The bells toll for Musa Capital - Corporate governance . 2010-12-18. Moneyweb. 2010-12-18.
  3. Web site: Wesizwe Platinum CEO to stand down. 2010-12-18. 2010-12-18.
  4. Web site: Wesizwe Platinum wracked by coup allegations. 2010-12-18. 2010-12-18.
  5. Web site: Wesizwe | Contact us. 2010-12-18. 2010-07-08.
  6. Web site: Wesizwe finalises financing deal - Companies - IOL . 2010-12-18. IOL.co.za. 2010-12-18.
  7. Web site: Wesizwe’s $855m deal finalised: Arthur Mashiatshidi - CEO, Wesizwe Platinum - SAfm Market update . 2010-12-18. Moneyweb. 2010-12-18.
  8. Web site: Mineweb.com - The world's premier mining and mining investment website Financing package concluded by South Africa`s Wesizwe Platinum - FAST NEWS . 2010-12-18. Mineweb. 2010-12-18.
  9. Web site: Wesizwe Platinum Advances to Six-Month High After Agreeing Takeover Terms - Bloomberg. 2010-12-18. 2010-12-18.
  10. Web site: China deal to transform Wesizwe Platinum: CEO . 2010-12-18. The Africa Report. 2010-12-18.
  11. Web site: Mining Journal - Wesizwe signs definitive agreement for Chinese funding. 2010-12-18. 2010-12-18.

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