Waterberg Project Emerges as Major Platinum Group Metals Development 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, projecting steady-state annual production of 353,208 ounces of platinum, palladium, rhodium, and gold along with significant copper and nickel by-products. This substantial output capacity positions the project as a significant contributor to global PGM supplies at a time when demand is experiencing substantial growth across multiple industrial sectors.

The Waterberg Project's geological composition features thick, shallow ore bodies that enable safer and more efficient mining techniques compared to traditional PGM operations. This structural advantage contributes to the project's anticipated low-cost production profile, potentially providing competitive advantages in the global metals market. With a projected 54-year mine life, the Waterberg Project represents one of the most substantial long-term investments in PGM production currently under development, offering stability and continuity in metal supply that few other projects can match.

Global demand for PGMs continues to accelerate, particularly in critical sectors such as automotive manufacturing where these metals are essential for catalytic converters, in electronics for various components, and in clean energy technologies including hydrogen fuel cells and renewable energy systems. The strategic design of the Waterberg Project directly addresses these emerging market needs, potentially positioning Platinum Group Metals as a key player in the global PGM supply chain. The project's development comes at a crucial time when many existing PGM operations face declining grades and increasing production costs.

The joint development approach involving collaboration with Implats, Mnombo, and HJM leverages collective expertise in platinum group metals extraction and processing. This partnership model enhances the project's technical capabilities and operational knowledge base, combining specialized skills from multiple organizations with proven track records in the mining industry. The extensive resource base identified in the feasibility study supports the long-term viability of the operation, ensuring consistent metal production capable of meeting industrial requirements for decades to come.

As industries worldwide 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 combination of substantial resource endowment, favorable geology, and strategic market positioning creates a compelling case for its importance in the global PGM landscape. With its low-cost production profile and extensive mine life, the Waterberg Project represents not only a significant business opportunity but also a potentially stabilizing influence on PGM markets facing supply constraints and growing demand pressures.