Modern Mining December 2022
PLATINUM GROUP METALS
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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