Waterberg Project Emerges as Major Platinum Group Metals Source with 54-Year Mine Life

Platinum Group Metals Ltd. is advancing the development of its Waterberg Project, a large-scale platinum group metals mine located in South Africa's Bushveld Complex. The September 2024 independent definitive feasibility study reveals promising economic potential for the underground mining operation. The project is projected to achieve steady-state annual production of 353,208 ounces of platinum, palladium, rhodium, and gold, along with significant copper and nickel by-products.

A notable feature of the Waterberg Project is its geological composition, characterized by thick, shallow ore bodies that enable safer and more efficient mining techniques. Global demand for PGMs is experiencing substantial growth, particularly in critical sectors such as automotive manufacturing, electronics, and clean energy technologies. The Waterberg Project is strategically designed to address these emerging market needs, potentially positioning Platinum Group Metals as a key player in the global PGM supply chain.

The project is being jointly developed in collaboration with Implats, Mnombo, and HJM, leveraging collective expertise in platinum group metals extraction. With a projected 54-year mine life, the Waterberg Project represents a significant long-term investment in PGM production. As industries increasingly rely on PGMs for advanced technologies and sustainable energy solutions, the Waterberg Project could play a crucial role in meeting future metal requirements.

The project's anticipated low-cost production and extensive resource base suggest potential competitive advantages in the global metals market. This development comes at a time when platinum group metals are becoming increasingly vital for various industrial applications, including catalytic converters in vehicles, electronic components, and hydrogen fuel cell technologies. The long mine life ensures a stable supply of these critical materials for decades, providing security for industries that depend on consistent PGM availability.

The strategic location within the Bushveld Complex, known for its rich mineral deposits, further enhances the project's significance in the global mining landscape. The collaborative approach with industry partners demonstrates the complexity and scale of modern mining operations requiring specialized expertise across multiple domains. The Waterberg Project's development timeline and production projections indicate careful planning and consideration of market dynamics and technological requirements.