Bauba Platinum enters into an Agreement
Bauba Platinum Limited announced that the Company has entered into a trial product sale agreement (“Agreement”) with Booysendal Platinum Proprietary Limited (“Booysendal”), a subsidiary of Northam Platinum Limited (“Northam”), in terms of which Bauba will sell 24 000 dry metric tonnes of low-grade chrome ore product to Booysendal over a period of six months. The Agreement is effective from April 2019.
In terms of the Agreement, Northam will process this product at its concentrator plant. Earnings and expenses flowing from the sales of the product will be shared between the parties in accordance with the terms of the Agreement.
According to Bauba’s Chief Executive Officer, Nick van der Hoven, “This is a significant milestone in Bauba’s product offering following the commissioning of its wash plant, adding an additional revenue stream from our Moeijelijk mine”.