Maseve Projects 1 and 3
The Maseve projects are located near Rustenburg in the North West province of South Africa. Project 1 adjoins Wesizwe’s Frischgewaagd-Ledig Project; it also shares a boundary with the Styldrift mine which is under construction, and the producing Bafokeng Rasimone Platinum Mine, both of which are owned by Royal Bafokeng Platinum Limited.
PTM is the manager and operator of the Maseve Projects 1 and 3 and announced an initial construction budget of US$100 million for the Project 1 Platinum Mine in December 2010. The budget was unanimously approved by the Maseve Board, on which Wesizwe currently holds four seats.
The Project 1 Platinum Mine plan calls for a production rate of 275,000 ounces 4E.
The engineering, procurement and construction management, (EPCM) contractor has been appointed and work has begun on the surface infrastructure and underground mine development planning. The contractor will work closely with the company’s Project Manager and Owner’s Representative. |
