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Wesizwe Platinum

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South African mining company
Wesizwe Platinum
IndustryMining
Websitewww.wesizwe.co.za

Wesizwe Platinum is a mining business in South Africa. It has significant platinum group metal deposit on the Bushveld Igneous Complex.

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. It is expected to produce 350,000 ounces of Platinum group metals per year.

In May 2011, a financing deal worth nearly $1bn was agreed with a consortium of Chinese investors; Wesizwe now has the Jinchuan Group and CADFund as its major shareholders. This deal would allow work to start on platinum production at the Bakubung Platinum Mine.

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.

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

External links

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