Imbani Platinum invests $100M for manpower, mining equipment and operations of the Ridge Mining's Blue Ridge project in South Africa
Ridge Mining's Blue Ridge project in South Africa project is a 50:50 joint venture between Ridge Mining and Imbani Platinum, which had invested more than $100m by December 2008 to fund the manpower, mining equipment and other operational costs.About 30km south-east of Groblersdal, Ridge Mining's Blue Ridge project is located on the Blaauwbank farm, on the eastern limb of the Bushveld Igneous Complex, South Africa. Ridge Mining started exploration in 2001 and completed a feasibility study at the end of 2005. Mine development began in January 2007.
The cash operating cost projection for Blue Ridge is $660/oz for the manpower and mining equipment to churn out platinum, palladium, rhodium and gold, giving an ROI in five years.
Source: globalusedconstructionequipment.blogspot.com
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