Waterberg Project Study Reveals Significant PGM Production Potential in South Africa

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

A key geological advantage of the Waterberg Project lies in its thick, shallow ore bodies that facilitate safer and more efficient mining techniques compared to conventional PGM operations. This geological composition allows for optimized extraction methods that could potentially reduce operational risks while maintaining production efficiency. The project's development comes at a time when global demand for PGMs is experiencing substantial growth across multiple critical sectors, particularly in automotive manufacturing where these metals are essential for catalytic converters, in electronics for various components, and in emerging clean energy technologies that rely on specialized metal properties.

The Waterberg Project is strategically positioned to address these emerging market needs through its collaborative development approach involving partners Implats, Mnombo, and HJM. This partnership leverages collective expertise in platinum group metals extraction and processing, combining technical knowledge and operational experience to optimize project outcomes. With a projected 54-year mine life, the Waterberg Project represents one of the most significant long-term investments in PGM production capacity globally, offering sustained metal supply stability in a market characterized by fluctuating availability.

As industries increasingly depend on PGMs for advanced technological applications and sustainable energy solutions, the Waterberg Project's anticipated low-cost production profile and extensive resource base suggest potential competitive advantages in the global metals market. The project's scale and longevity could position Platinum Group Metals as a key player in the global PGM supply chain, particularly as demand patterns shift toward cleaner technologies and more efficient industrial processes that require specialized metal inputs.