Platinum Group Metals (NYSE American: PLG) (TSX: PTM) has signed a memorandum of understanding (MOU) with Ajlan & Bros Company for Mining and Saudi Arabia’s Ministry of Investment (MISA) to explore the development of a platinum group metals smelter (“PGM Smelter”) and base metal refinery (“BMR”) in Saudi Arabia. The initiative supports Saudi Arabia’s Vision 2030 by fostering the mining and minerals sector as a key economic pillar. Building on a 2023 Cooperation Agreement with Ajlan, the project includes a global PGM concentrate market study, a feasibility study, and potential for a 50:50 joint venture. The project aims to process Waterberg Project concentrate from South Africa, supplemented by end-of-life catalysts and other regional materials, pending long-term export approvals from South Africa.
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About Platinum Group Metals Ltd.
Platinum Group Metals is the operator of the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly developed with Implats, Mnombo and HJM. For more information about the company, visit www.PlatinumGroupMetals.net.
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