Modern Mining December 2022


Southern Palladium’s Bengwenyama eyes PGM

The World Platinum Investment Council’s (WPIC’s) latest report projects platinum deficits from 2023 deepening to 2026, which bodes well for Australian-listed Southern Palladium , as it aims to bring its flagship Bengwenyama project in the Bushveld Complex into production by 2028. By Nelendhre Moodley .

“ S ou t he r n Pa l l ad i um’ s 70% - owned Bengwenyama project is the last shallow undeveloped PGM deposit on the Eastern Limb of the Bushveld Complex in the hands of a listed junior company. The project sits in a sweet spot between, developed projects in the area, and contains grades of 7,70 g/t across a 71 cm layer on the UG2 reef. And, although the Merensky reef offers lower grades of 2,96 g/t, the PGM producing layer is close to 2 m thick, which lends itself to mechanised mining,” explains CEO Johan Odendaal.

The Merensky and UG2 reefs extend from surface to a depth of 1 100 m over 10 km. Over the next two years, Southern Palladium intends to complete a scoping study, pre-feasibility study and apply for a mining right, which will be accompanied by a social labour plan and environmental studies.

programme and a feasibility study in hand. We are working towards a mining right application at the end of 2023,” explains Odendaal. A report by Bridge Street Capital’s Dr Chris Baker notes that the mining right is expected to be achieved within a two-year timeframe, followed by project construction. Odendaal adds that owing to the sheer magnitude

“One of our milestones is to have an asset with a reserve of at least 2 moz post the current drilling

Southern Palladium recently listed on the JSE.

18  MODERN MINING  December 2022

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