Wesizwe - About us
By Dawn Mokhobo, Chairperson of Wesizwe Platinum
We are moving towards the realisation of our goal to provide sustained mining services over the next 30 years, with the company strategy growing from its early phase towards maturity at a pleasing speed. It must be noted, in the interest of highlighting progress, which most of our core business structures are already at an advanced stage for a relatively new business – these include our governance, finance and sustainable development structures. In the previous year’s report, I communicated the fact that Wesizwe’s mine would not only be cost effective to build, but that construction would also be done with a 26 month reduction in the time required to reach full production. This was due to Jinchuan, our Chinese consortium partner’s proactivity in conveying engineering optimisation innovations to ensure a timely and quality production. I am thus proud to state that much progress has been made, in line with the company’s strategic imperative of achieving a 230 000tpm production level by October 2020. In the second quarter of 2017, our flagship project, BPM, is scheduled to commence production and by 2021, full-scale production will be reached. Wesizwe’s Life of Mine (LOM) will be sustained over a period of three decades presenting much needed job opportunities for our host community. Industry Outlook The mining industry continues to be highly dynamic and challenging due to the buildup of labour tensions over the last few years. However, our talent relations and labour approach have seen us continue steadily with the task at hand to begin production by 2017, and as mentioned above we are on schedule. Demand for platinum was relatively flat during 2015, with the metal priced at an average of $1042.56/oz. The depreciating Rand in the third quarter of 2015 was a concern for the industry at large and played a ...
Investing in African Mining Requires a Long Term Perspective
An opinion piece by Ms Dawn Mokhobo, Chairperson of Wesizwe Platinum Limited
At this year´s Mining Indaba which ended this week, the focus of debate was firmly on finding ways to encourage the global mining sector to continue to invest not just in South Africa, but across the African continent as a whole. This call to action came against a backdrop of difficult sectoral challenges and a considerable amount of recent turmoil for the mining industry in this country over the past year, still reeling from the impact of plummeting resource prices, crippling strike action and the consequences of the Marikana disaster. However, when the Minister of Mineral Resources, Susan Shabangu, urged all parties to work together to ensure that the mining sector becomes a destination of choice for overseas investment, it rang a particularly pertinent and timeous note. As Chairperson of Wesizwe Platinum Limited, I represent a unique Chinese/South African mining joint venture that this month announced the confirmation of a US$ 650 million loan from the China Development Bank for the development of its Bakubung Platinum Mine project, located in the Western Limb of the Bushveld Complex, close to Rustenburg. The confirmation of this significant new funding arrangement for Wesizwe´s flagship project represents the first of several important milestones to be reached and announced this year and demonstrates the level of confidence in the project, and in the future of the South African mining industry, on the part of our Chinese shareholders, Jinchuan and the China-Africa Development Fund. This is not only good news for Wesizwe, as a company with a firm intent to become a significant mid-tier precious metals producer, but it also sends a positive signal to the country´s mining industry as a whole during what is undoubtedly a challenging period of time in its history. The Minister´s reaffirmation of the country's attitude and policy towards nationalisation not ...