RE: RE: Platinum, palladium to rise next year too
See my previous post!
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My 8/15/2010 post:
Is ELR on China's radar!
...as we have seen in the past, China likes to buy up companies instead of purchasing metals on the open market (Gold, Copper, Platinum etc.). Could ELR be next???
https://www.asiaminer.com/magazine/latest/investment-platinum-development-funds.html
| INVESTMENT - Platinum development funds |
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A Chinese consortium has taken a 51% interest in South African platinum producer Wesizwe Platinum. The purchase by the consortium, which comprises Jinchuan Group and the China-Africa Development Fund (CADF), will help finance Wesizwe’s Frischgewaagd-Ledig project on the western limb of South Africa’s Bushveld Complex. Capital funding to develop the project is estimated at US$824.5 million and Wesizwe plans to annually produce 350,000 ounces of PGMs in concentrate over a period of 35 years. Jinchuan will purchase all of the platinum group metals (PGMs) concentrate produced by the project under a long-term off-take agreement. The Jinchuan/CADF investment in Wesizwe represents China’s first direct investment in African platinum. Jinchuan/CADF will subscribe for US$227 million in ordinary shares of Wesizwe, representing a 51% interest, and will provide project financing totalling $650 million to support development of the project.
www.wesizwe.co.za
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