Wesizwe Platinum Limited 4

Weziswe is listed on the JSE. During 2003, Wesizwe acquired Bakubung Minerals (Pty) Ltd, the investment vehicle for the Bakubung Traditional Community.1

In 2007, Wesizwe expanded its interests in neighbouring properties (currently known as Maseve Project 1 and 2) through the acquisition of Africa Wide Mineral Prospecting and Exploration (Pty) Ltd, becoming the BEE partner in the Western Bushveld Joint Venture with Anglo American Platinum and Platinum Group Metals.2

In 2011, Wesizwe concluded a deal with Jinchuan Group Co. Limited (Jinchuan) and the China Africa Development Fund (CADFund), who decided to join as shareholders through a consortium (the China Africa Jinchuan Investments Limited (CAJIL) consortium).

Operations

Bakubung Platinum Mine3

  • Location: 50km north of Rustenburg, in the North West province.
  • Type of mine: Underground.
  • Current status: In development.
  • Size: No publicly available information on size of mining right.
  • Life of mine: 30 years (full production expected to be reached in 2021).

Maseve Projects 1 and 34

  • Location: Near Rustenburg, in the North West province.
  • Type of mine: Opencast and underground.
  • Current status: Operational.
  • Size: No publicly available information on size of mining right.
  • Life of mine: 20 years.

WeSizwe Platinum holds a 17.1% interest in Maseve Investments 11 (Pty) Ltd (the holding company for the mine) through a wholly-owned subsidiary company, Africa Wide Mineral Prospecting and Exploration (Pty) Ltd. The other 82.9% shares are held by Platinum Group Metals Limited (PTM) Canada, which is the manager and operator. Royal Bafokeng Platinum Ltd is in the process of acquiring 100% of the shares in Maseve Investments 11 (Pty) Ltd from Wesizwe and Platinum Group Metals Limited.5