Waterberg Project Emerges as Major PGM Resource 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, highlighting the project's significance in the global metals market. 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 that enhance its economic viability.

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 compared to traditional deep-level mining operations. This geological advantage contributes to the project's anticipated low-cost production profile, suggesting potential competitive advantages in the global metals market. Global demand for PGMs is experiencing substantial growth, particularly in critical sectors such as automotive manufacturing, electronics, and clean energy technologies where these metals serve essential functions in catalytic converters, electronic components, and hydrogen fuel cells.

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 and processing. This partnership approach enhances the project's technical capabilities and operational experience while distributing development risks among multiple stakeholders. With a projected 54-year mine life, the Waterberg Project represents a significant long-term investment in PGM production that could provide stable supply security for decades.

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 extensive resource base and favorable mining conditions position it as a potentially important contributor to the global transition toward cleaner energy technologies and more efficient industrial processes. The combination of substantial production capacity, long operational lifespan, and strategic partnerships makes the Waterberg Project a noteworthy development in the platinum group metals sector with implications for multiple industrial supply chains.