The sheer size of the Bushveld igneous complex in the north-east of
South Africa, which hosts most of the world’s platinum, has
attracted companies from all over the world, but particularly
members of Canada’s thriving junior mining and exploration
sector.
Canadian firm Platinum Group Metals, listed on the Toronto Stock
Exchange as PTM, is the latest to join the fray.
It has acquired the option to buy 100% of two platinum properties,
covering about 4 600 ha on the fairly unexplored northern limb of
the Bushveld complex.
The company claims to be one of the largest landholders in the Lac
des Iles and the River Valley areas of Ontario, Canada. The Lac des
Iles area hosts a recently expanded semining equipment rental in indonesiaven-million ounce palladium
mine and the Sudbury area has attracted the attention of the
largest platinum producers from South Africa, says the
company.
The first of the two new South African properties is the War
Springs property, located south directly along the Platreef
contact, 17 km from the currently producing Anglo Platinum
Potgietersrust mine hosting more than 50-million ounces of
platinum-groupcylinder hydraulic jaw crusher metals (PGM) resources, and 10 km south of the
active large-scale drilling programme of African Minerals. This
property covers 2 396 ha. The prospective Platreef contact zone has
been mapped to cross the property for more than five kilometres.
This zone is not known to have been tested with a large-scale
systematic drilling programme previously. Applications for
prospecting permits will be filed immediately to start surface worused mobile crusher crawlerk
to target a drilling programme of more than 5 000 m by PTM as soon
as possible.
The second property, Tweespalk, is located about 25 km north of the
Potgietersrust mine along the Platreef contact. This property
covers 2 177 ha and about three kilometres of the prospective
contact and again applications will be filed to start work
immediately. A $1-million brokered private placement, previously
announced, will close withmineral processing crushers za this acquisition. The contract provides
the option for PTM to buy 100% of the mineral rights at any time
over three years. The agreement is with a private partnership that
has brought together previously fragmented mineral rights. PTM has
agreed to pay $2,50 per hectare, $2,75 per hectare and $3,25 per
hectare in prospecting fees to the mineral-rights holders in years
one, two and three. The company can buy the mineral rights for $475
per hectareno of stone crushing machines in mombasa in year one, or $570 per hectare in year two or $690
per hectare in year three. Meanwhile Anooraq Resources, also of
Canada, has secured more than 12 000 ha of prospective ground to
the north of Potgietersrust mine on the northern limb.
Anooraq has also entered into a joint venture with African
Minerals, an affiliate of Canadian company Ivanhoe Capital, over
some properties.
Another Canadian company, Placer Dome – better known for its
gold activities in South Africa – has said it is in the
process of obtaining property on the Bushveld complex. It would do
so in joint venture with a black-empowerment partner.
Also, Toronto-listed SouthernEra has joined Tokyo Sexwale’s
Mvelaphanda Resources in a bid to acquire mining rights in the
area. SouthernEra is the majority owner of Messina Platinum, which
mines platinum-group metals on the northern limb of the Bushveld
complex. Canadian Natural Resources Minister Herb Dhaliwal stated
at an African mining investment conference in Cape Town earlier
this year that Canadian mining companies have interests in 260
properties throughout Africa, and have a more than 30% stake in 32
mines in 11 different countries on the continent.
„More than 25% of all mining exploration being carried out in
Africa at present can be attributed to Canadian-based firms,“ said
Dhaliwal.