Platinum Group Metals Ltd. announced on December 20, 2023, a Cooperation Agreement with Ajlan & Bros Mining and Metals Co. to study the establishment of a stand-alone PGM smelter and base metal refinery in Saudi Arabia.
The agreement outlines three phases: a global PGM concentrate market study, a Definitive Feasibility Study (Smelter DFS) for the construction and operation of the facilities, and an option to form an incorporated 50:50 joint venture.
The Smelter DFS is projected to cost approximately US$4.0 million, with expenses to be split equally between Platinum Group Metals and Ajlan. This initiative aims to explore new processing infrastructure and enhance the value chain for PGMs.
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