Wesizwe Platinum

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]

Wesizwe Platinum
IndustryMining
Websitewww.wesizwe.co.za

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.[12]

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References
  1. "Sacked Wesizwe CEO scrapes back in pyrrhic victory". 2010-12-18. Retrieved 2010-12-18.
  2. "The bells toll for Musa Capital - Corporate governance". Moneyweb. 2010-12-18. Retrieved 2010-12-18.
  3. "Wesizwe Platinum CEO to stand down". 2010-12-18. Retrieved 2010-12-18.
  4. "Wesizwe Platinum wracked by coup allegations". 2010-12-18. Retrieved 2010-12-18.
  5. "Wesizwe | Contact us". 2010-07-08. Retrieved 2010-12-18.
  6. "Wesizwe finalises financing deal - Companies - IOL". IOL.co.za. 2010-12-18. Retrieved 2010-12-18.
  7. "Wesizwe's $855m deal finalised: Arthur Mashiatshidi - CEO, Wesizwe Platinum - SAfm Market update". Moneyweb. 2010-12-18. Retrieved 2010-12-18.
  8. "Mineweb.com - The world's premier mining and mining investment website Financing package concluded by South Africa`s Wesizwe Platinum - FAST NEWS". Mineweb. 2010-12-18. Retrieved 2010-12-18.
  9. "Wesizwe Platinum Advances to Six-Month High After Agreeing Takeover Terms - Bloomberg". 2010-12-18. Retrieved 2010-12-18.
  10. "China deal to transform Wesizwe Platinum: CEO". The Africa Report. 2010-12-18. Retrieved 2010-12-18.
  11. "Mining Journal - Wesizwe signs definitive agreement for Chinese funding". 2010-12-18. Retrieved 2010-12-18.
  12. $650m Chinese loan for Wesizwe’s Bakubung platinum mine project, International: Mining Weekly, 2013
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