- Platinum Group Metals (PTM) and the Japan Oil, Gas and Metals National Corporation (JOGMEC) have signed a memorandum of understanding (MOU) to advance the Waterberg Project
- Waterberg is a bulk underground palladium and platinum deposit located in South Africa
- The companies intend to finalize project funding over the coming months
- Platinum Group Metals is primarily focused on operating The Waterberg Project
- Platinum Group Metals (PTM) is down by 5.11 per cent trading at $1.67 per share
Platinum Group Metals (PTM) and JOGMEC have signed an MOU to advance the Waterberg Project.
Waterberg is a bulk underground palladium and platinum deposit in South Africa.
The agreement follows discussions between the companies earlier this week at the African Mining Indaba in Cape Town.
They will now focus on securing and finalizing a funding package for the project over the coming months.
“We are honored and encouraged by the declaration of support from our Japanese partners,” stated Frank Hallam, Platinum Group’s President and CEO. “The current geopolitical situation has reinforced the importance of establishing a secure and ethically sourced supply of platinum and palladium for Japanese and global industry.”
Platinum Group Metals is primarily focused on operating The Waterberg Project, which it is developing alongside JOGMEC, Hanwa, Impala Platinum Holdings and Mnombo Wethu Consultants.
Platinum Group Metals (PTM) is down by 5.11 per cent trading at $1.67 per share as of 9:40 am EST.
