Platmin
Platmin (PPN:TSX, AIM) is incorporated in Canada as a mineral exploration company focused on the exploration and development platinum group metal (PGM) deposits in South Africa. Platmin is admitted to trading on the AIM Market of the London Stock Exchange Plc and the TSX.
Platmin aims to be a significant producer of PGMs through the development and operation of four key projects in South Africaís renowned Bushveld Complex - Pilanesberg, MíPhatlele, Grootboom and Loskop.
The potent combination of Platmin's experienced team and its high-quality PGM projects, which present near-term production, development and growth potential, position the company to become an important independent producer of PGMs over the next few years.
Platmin secures power supply for PGM mine
Platmin Limited (TSX/AIM: PPN) announced that it had accepted a quote from South Africa's power utility, Eskom, to supply 37MVA of new power for its Pilanesberg Platinum Mine on the western limb of South Africa’s Bushveld Complex. Eksom is already providing 1.5MVA of power for the construction phase of the mine, which Platmin reconfirmed is on track for production to begin in the first quarter of 2009.
Ian Watson, CEO of Platmin said today:
“After extensive engagement with Eskom for several years, securing of the power supply is an important milestone in our plans to bring the Pilanesberg mine into production early next year. We are confident that Eskom will meet their contractual commitment to supply grid power to PPM in time for production start-up”
“Power costs at PPM are expected to be approximately 6% of the operating costs, or US$32/oz of 3PGE+Au, compared to 10-20% in the peer group of underground platinum mines within the Bushveld Complex. This low power utilization, coupled with open pit mining, makes our operation less sensitive to power outages than the industry in general.”
Other Platmin articles
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16/12/08 Re-jigged finances administer the kiss of life to Platmin
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26/03/08 Platmin’s labour pains begin!
Other Platmin news
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11/11/08 Platmin names Minopex treatment plant manager for Pilanesberg open-cast project
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04/03/08 Platmin fast tracks Mphahlele feasibility study
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19/02/08 Platmin secures mining right for Pilanesberg
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22/01/08 Platmin appoints Manager of Mining