ITOCHU Increases Investment In South Africa's Platreef Mine

RunWithRugs · 2026-03-26T06:13:57+00:00

ITOCHU Corporation announced a capital investment in ITC Platinum Development Ltd. for a 10% stake in South Africa's Platreef Mine. The project aims to produce primary platinum group metals, with Phase 1 operations ongoing and Phase 2 expansion planned for completion by late 2027.

RunWithRugs

2026-03-26 06:13:57

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(MENAFN- Trend News Agency) ** BAKU, Azerbaijan, March 24.** ITOCHU Corporation, headquartered in Minato-ku, Tokyo, announced an additional capital investment in ITC Platinum Development Ltd. (IPTD), a Japanese consortium established by ITOCHU, the Japan Organization for Metals and Energy Security (JOGMEC), and other partners, Trend reports.

Through IPTD, ITOCHU holds a combined 10% stake in the Platreef Mine, located in the northern limb of South Africa’s Bushveld Igneous Complex. The mine is one of the world’s largest precious metals projects under development, with long-term plans to expand and become a major producer of primary platinum group metals, including platinum, palladium, rhodium, as well as nickel, gold, and copper. Its extensive resource base supports safe, efficient, and large-scale mechanized mining operations.

Phase 1 of the Platreef Mine began operations with an opening ceremony on November 18, 2025. The ramp-up of the Phase 1 concentrator to full capacity is ongoing, while development for the Phase 2 expansion has started, with completion expected by the end of the fourth quarter of 2027.

The metals produced at Platreef are essential for various industrial applications. ITOCHU retains off-take rights proportional to its stake in the mine and aims to contribute to a stable supply of these critical metals to Japan.

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