GPR, Chinese partner revive $1,7bn platinum plan

GPR, Chinese partner revive $1,7bn platinum plan
Published: 06 April 2018
Global Platinum Resources and its Chinese partner, Wanbao Rexco, this week announced plans to revive operations at its 520 million ounces platinum reserves along the Great Dyke belt.

Parties to the $1,7 billion deal are pinning hope for revival of the project, that stalled for 14 years since the establishment of Global Platinum Resources (GPR) in 2004, to the visit by President Mnangagwa to China on a state visit.

The company believes President Mnangagwa's visit to China is expected to provide impetus for the firm to start exploiting the vast resources before year end.

The developments come barely a fortnight after Government penned a $4, 2 billion platinum deal in the Ngezi area with Cyprus based company, Karo Resources.

GPR technical manager Retired Brigadier General Livingstone Chineka, told Business Weekly that though the deal has stalled for years, President Mnangagwa's successful visit to China would be a game changer.
- Business Weekly
Tags: Platinum,


Latest News

Latest Published Reports

Latest jobs