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Metorex Acquires Phoenix Platinum
Metorex has concluded an agreement to acquire 100% of Phoenix Platinum Mining Limited a company incorporated in the United Kingdom.
Phoenix SA holds the rights to treat a number of chromite tailings dumps and current arisings on the Western Limb of the Bushveld Complex for platinum group minerals.
The scoping study completed by Metorex indicated the robustness of the project at a production rate of 21 000 PGM ounces per annum over a projected life of approximately 18 years.