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JOGMEC’s Equity support to Waterberg PGM Project in South Africa- Ensuring the access to Platinum Group Metals for industrial use -
JOGMEC’s Equity support to Waterberg PGM Project in South Africa
- Ensuring the access to Platinum Group Metals for industrial use -
PDF version of this page (145 KB)June 9, 2023
Japan Organization for Metals and Energy Security (“JOGMEC”) announced that it provides equity to the Waterberg PGM Project (the “WB Project” or the “project”) at Limpopo Province in South Africa, which HANWA Co, LTD (“HANWA”) is participating.
Following the application from HANWA and the execution of the relevant agreements, JOGMEC provides the project expense as equity through HJ Platinum Metals, a special purpose company established with HANWA. This is the first project which JOGMEC contributes 75% of required expense, utilizing the FY2023 supplemental budget.
In 2009, JOGMEC entered into the joint venture agreement with Platinum Group Metals Limited (“PTM”), an operator of the project, and launched exploration activities. In 2018, HANWA participated in the project by taking over a portion of the option interest held by JOGMEC.
Platinum group metals (“PGM”) refer to six elements: platinum, palladium, rhodium, iridium, ruthenium, and osmium. Particularly, platinum and palladium are widely used in industrial field such as fuel cells and automotive exhaust catalytic, and they play a critical role in decarbonization. The WB Project holds large-scale and high-quality PGM deposits (242 million tonnes of resources with average grade of 3.38g per tonne) and enables high cost-competitiveness by mechanized mining.
Securing the exclusive metal marketing rights by HANWA on the refined metals produced from the project, the WB Project is expected to be a new stable PGM supply source for Japan upon the commencement of production.
For securing the stable supply of natural resources to Japan, JOGMEC will continue to provide strong support with the Japanese companies engaged in resource development.
In 2009, JOGMEC entered into the joint venture agreement with Platinum Group Metals Limited (“PTM”), an operator of the project, and launched exploration activities. In 2018, HANWA participated in the project by taking over a portion of the option interest held by JOGMEC.
Platinum group metals (“PGM”) refer to six elements: platinum, palladium, rhodium, iridium, ruthenium, and osmium. Particularly, platinum and palladium are widely used in industrial field such as fuel cells and automotive exhaust catalytic, and they play a critical role in decarbonization. The WB Project holds large-scale and high-quality PGM deposits (242 million tonnes of resources with average grade of 3.38g per tonne) and enables high cost-competitiveness by mechanized mining.
Securing the exclusive metal marketing rights by HANWA on the refined metals produced from the project, the WB Project is expected to be a new stable PGM supply source for Japan upon the commencement of production.
For securing the stable supply of natural resources to Japan, JOGMEC will continue to provide strong support with the Japanese companies engaged in resource development.
Corporate Data
HJ Platinum Metals
| Head Office | 1-13-1 Tsukiji, Chuo-ku, Tokyo, Japan |
|---|---|
| Representative | CEO Ryuichi Takesako |
Platinum Group Metals Ltd.
| Head Office | Vancouver, British Columbia, Canada |
|---|---|
| Representative | CEO Frank Hallam |
| Date Established | 2000 |
| Business | exploration and Development of PGM Metals |
HANWA Co, LTD
| Head Office | 1-13-1 Tsukiji, Chuo-ku, Tokyo, Japan |
|---|---|
| Representative | CEO Yoichi Nakagawa |
| Date Established | April 1, 1947 |
| Capital | 5,651,276,790 yen (JPY) |
| Number of Employees | 1,521 (as of March 31, 2022) |
Location of Project
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