Plans by black economic empow- ered (BEE) company Tjate Pla-tinum
to develop a large-scale mining operation on the eastern limb of
the Bushveld Complex are gaining momentum.
Earlier this week the company started a drilling programme on the
farms of Dsjate, Fernkloof and Quartzhill, in Limpopo, for which it
holds the prospecting rights for all precious metals and base
minerals.
Tjate CEO Colin Bird says that the drilling programme is part of
the company’s strategy to advance the development of the
project to the bankable feasibility stage.<br /marble production line polyester>
Bird became the CEO of Tjate after mining exploration firm Jubilee
Pla-tinum, of which he is also the CEO, acquired 25% of the company
in a transaction worth R35-million in December.
Jubilee has also undertaken to subscribe in cash for a further 10wet and dry process of making cement%
in the company for R14-million, which Tjate may only use for
funding the bankable feasibility study.
The other partners in the transaction were BEE companies New
Platinum Corporation (NPC) and Matuba Holdings, which trades as the
Sebata Kgomo consortium.iron ore heavy duty equipments with photos Emerging black mining entrepreneurs Tiego
Moseneke and Vincent Phaalha head NPC and Sebata Kgomo,
respectively. The purchase of the 25% shareholding represents 15%
from NPC and 10% from Sebata Kgomo.
Following the fulfilment of all agree-ments, Jubilee will hold 35%
of the company, Sebata Kgomo 36,67% and NPC 28,33%.
Jubilee, which is based in London, plans to transfer its interest
in Tjate to its South African subsidiary, Windsor Platinum
Investments. The New Africa Mining Fund has indicated that, subject
to approval by its internal investment committee, it will invest up
to R15-million in Windsor in connection with the Tjate
trans-action.
Bird says that, depending on the result of the bankable feasibility
study, Windsor could, in future, enlarge its stake in Tjate. It is
estimated that the company’s property contains a resource of
65-million ounces of platinum-group metals (PGMs).
Anglo Platinum, the previous owner of the property, has drilled
three holes on the farms.
Bird says that, in a report released in April, geological and
mining con-sultancy Ddraig Minerals Development endorsed previous
estimates of the resource on the Tjate property, which postulated
some 65-million PGM ounces.
“The current drilling programme will enable us to collect
more data on the resource, and confirm the quality and continuity
of the strike. “Indications are that the grade of the UG2
resource is 7,8 g/t 5PGE+Au, while the Merensky reef is 6,5
g/t,” Bird adds.
Interpretations of previous inform-ation collected suggest that the
orebody is not shallower than 650 metres and has a shallow dip of
between 8