Orezone Announces Appointment of New Director
RETIREMENT OF DEPUTY CHAIRMAN - Mineral Deposits Limited©2006
New platinum mine on the cards in the Pilanesberg SA
The Industrial Development Corporation (IDC), the Pallinghurst Investor Consortium (Pallinghurst), the Bakgatla Ba Kgafela Tribe (Bakgatla) and Platmin Limited (Platmin) have concluded a R3.24 billion transaction that would consolidate a number of important PGM properties around the Pilanesberg Platinum Mine.
The investment will be into a newly consolidated company, NewCo, which has the potential to create some 9,000 direct and permanent jobs. This consolidation provides the foundation for a large, shallow and low-cost mining complex, with long life (in excess of 30 years) and a promising strong growth profile. NewCo’s resource base is approximately 70 million 4PGM
ounces and, uniquely, the majority of these ounces are shallower than 600 metres, making this one of the safest and most energy efficient new generation PGM operations in the world.

The Consolidation will involve the development of three historically stand alone, shallow (mainly open-cast) contiguous PGM properties into a single regionally optimised mega-mine. The Properties, situated north of the Pilanesberg on the western limb of the Bushveld Complex (Western Limb) in South Africa, are:
? Pilanesberg Platinum Mine (PPM), the producing operations of Platmin;
? the Sedibelo Platinum Project, owned by Itereleng Bakgatla Minerals Resources (Pty) Limited (IBMR); and
? the Magazynskraal Platinum Project, owned by Richtrau No 123 (Pty) Limited (Richtrau).
These Properties are the last shallow PGM resources on the Western Limb, situated immediately south of Anglo Platinum Limited’s Union Mine.

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