TOKYO (Commodity Online):  Japan has obtained rights to develop platinum mines in South Africa and Botswana in a bid to ensure a stable supply of the metal.

Japan Oil, Gas and Metals National Corp has signed a contract with Discovery Metals in Australia to jointly develop nickel and platinum mines in northeast Botswana.

According to a statement from the Japanese firm, it has inked another deal with Canadian firm Platinum Group Metals to explore for platinum in South Africa.

It will pay $2.7 million to Discovery Metals over three years for exploration costs, in return for 60 per cent of the rights to the metals.

JOGMEC will pay $3.2 million to Platinum Group Metals over four years for a 37 per cent share.

Japan has in recent years worked to strengthen ties with African countries to ensure supplies of resources including precious metals.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook