- Platinum group metals (“PGMs”) are a special selection of six critical metals—platinum, palladium, rhodium, osmium, iridium and ruthenium—that are essential for a sustainable future
- Most PGMs are being mined from a single area in South Africa
- The Waterberg Project, operated by Platinum Group Metals, is projected to be one of the largest and lowest-cost PGM mines globally
Platinum Group Metals (NYSE American: PLG) (TSX: PTM), a company that operates the Waterberg PGM Project in South Africa, is strengthening its foothold in a niche sector of mining: platinum group metals (“PGMs”). The company’s primary business objective is to advance the Waterberg Project to a development and construction decision.
“Platinum group metals, or PGMs, are a very special selection of six metals [platinum, palladium, rhodium, iridium, osmium and ruthenium] that we find in the periodic table,” reported Sarah Gordon, cofounder of Critical Productions, a company that believes raw materials are essential for a sustainable future (https://ibn.fm/RVXBI). “They’re special because we find them in catalytic converters — so, in the exhausts of our vehicles — and they’re there because they help take out some of the nastier emissions generated by our combustion engine, so they don’t go into the atmosphere.
“We can also use PGMs in things like medicine,” Gordon continued. “They are great at forming different component parts of different medical implements within our bodies. They’re also a key component part of hydrogen power, so by pumping them through these membranes, you get hydrogen and you get oxygen, and then we use the fuel cells that also require the PGMs to be able to combine them back together again. So that’s where we get the power in hydrogen power.”
The report noted that the supply of PGMs is limited, with most PGMs being mined from a single area in South Africa, with smaller producers in Russia and the United States. The Waterberg Project, operated by Platinum Group Metals and projected to be one of the largest and lowest-cost PGM mines globally, is located on the Northern Limb of the Bushveld Complex in South Africa. The project was discovered by Platinum Group in 2011 and is planned as a fully mechanized platinum, palladium, rhodium and gold mine, including byproduct copper and nickel production.
“PGMs are critical for pollution control in the automotive sector, including traditional internal combustion engines (‘ICE’) and the growing gasoline hybrid and plug-in hybrid (‘PHEV’) segments,” states Platinum Group. “PGMs also play a critical role in fuel cell technology and the production of hydrogen.”
The Waterberg Project is a joint venture between Platinum Group, integrated PGM producer Impala Platinum Holdings Ltd. (OTCQX: IMPUY), Japanese consortium HJ Platinum (which includes trading house Hanwa Co. and the government-backed Japan Organization for Metals and Energy Security) and empowerment partner Mnombo Wethu Consultants (Pty) Ltd. Platinum Group has an effective 50.22% interest in the Waterberg Project.
For more information, visit the company’s website at www.PlatinumGroupMetals.net.
NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/PLG
