PGMs
The Syama Sulphide Conversion Project (SSCP) will increase sulphide processing capacity from 2.4 mtpa to 4 mtpa.
Bengwenyama targets first concentrate production in 2028
Strong demand and rising prices for platinum group metals (PGMs)—which have more than doubled over the past year—are prompting miners across the sector to realign strategies and fast-track production growth. Project developers such as Southern Palladium are advancing greenfields projects at pace to capitalise on improving market fundamentals. D ual-listed Southern Palladium is targeting first PGM concentrate production from its Bengwenyama project by as early as February 2028 contingent on the granting of the Mining Right, Managing Director Johan Odendaal tells Modern Mining . Southern Palladium holds a 70% interest in the
Bushveld Complex. The project hosts the Merensky outcrop and provides shallow access to the UG2 reef, characterised by a shallow-dipping, tabular orebody. Importantly, South Africa’s PGM industry is mature, with existing smelters and both base and precious metal refineries.” Bengwenyama development progress Southern Palladium completed a pre-feasibility study (PFS) in 2024 and declared a maiden JORC Probable Ore Reserve of 6.29 million ounces at a grade of 6.17 g/t PGM (6E). The company is now progressing an optimised pre-feasibility study (OPFS) and its definitive feasibility study (DFS), both scheduled for completion later this year. With PGM markets experiencing a strong upturn, the company is focused on unlocking production as early as possible. “Our drilling programme between 2022 and 2024 gave us an in-depth understanding of the Bengwenyama resource,” Odendaal explains. “This work underpinned our initial
Bengwenyama PGM project, located on the Eastern Limb of South Africa’s Bushveld Complex, home to the world’s largest known PGM reserves. A top-tier undeveloped PGM asset Bengwenyama is regarded as a highly attractive, top-tier undeveloped PGM deposit, underpinned by high-grade resources, low-cost operating potential, and a disciplined, staged development strategy. “The project is located in a premier PGM district, surrounded by existing operations and well-established infrastructure,” says Odendaal. “We were fortunate to secure the last piece of shallow real estate on the Eastern Limb of the
14 MODERN MINING www.modernminingmagazine.co.za | March 2026
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