(Ecofin Agency) - Last weekend, Platinum Group Metals Ltd. announced that its joint venture partner JOGMEC had signed a MoU with the Japanese trading company Hanwa. Through this memorandum, JOGMEC transfers 9.755% of its 21.95% shares to Hanwa.
In the days to come, both companies will conclude the transfer agreement. Once it is done, Hanwa which is a Tokyo-based leading global trading company, can buy products from the Waterberg project and sell them on the Japanese market.
“We are very pleased to welcome Hanwa, a large Japanese versatile company, to the Waterberg Joint Venture. Hanwa’s experience in the global metals and industrial complex adds another dimension to our Joint Venture,” said R. Michael Jones (photo), CEO of Platinum Group Metals.
Let’s recall that the Waterberg project hosts a probable reserve of 12.3 million oz of palladium, platinum, gold, and rhodium as well as 191 million pounds of copper and 333 million pounds of nickel. A definitive feasibility study will be conducted in the first half of 2019.