By: Creamer media

Moreover, it provides a platform for participants to discern what is happening in the global marketplace regarding critical minerals.

This was highlighted by JSE- and ASX-listed Southern Palladium chairperson Roger Baxter, who, in an interview with Mining Weekly outlined how the company was capitalising on the opportunities provided by the platform.

FMF is a yearly global critical minerals conference, currently under way in Riyadh, Saudi Arabia, under the auspices of the country’s Minister of Industry and Mineral Resources.

Baxter informed that Southern Palladium would be leveraging the opportunity to meet with myriad investors, building on its work over the past six months to promote the company to the market.

He explained that Southern Palladium was not immediately looking for additional financing, having raised A$20-million at the end of last year, which would support it through to final investment decision (FID) at its Bengwenyama platinum group metals project, in South Africa.

An FID is expected to be made in the third quarter of this year. 

However, owing to the rapid progress it was making with advancing the Bengwenyama project, it was important for the company to sustain connections in the financial investment community, and make new ones, for the future, Baxter averred.

“It’s a great place to come and meet financiers of mining companies from around the world,” he stated.

The company holds a 70% interest in the Bengwenyama project, located the eastern limb of South Africa’s Bushveld Complex.

Baxter informed that South Palladium was at a “critical stage” with the project, and was currently finalising its definitive feasibility study (DFS), which was expected to be completed by the end of the second quarter.  

“We’ve done a lot of work to derisk the project; and we’re 80% done with DFS-level work.”

The company is also mulling early decline development in the second quarter, ahead of the FID.

Baxter also lauded the “enormous progress” made by Saudi Arabia in the country’s drive towards encouraging mining development in the Kingdom.

He also mentioned that FMF discussions had zeroed in on important topics including critical minerals and pathways to unlocking these, and the use of AI in mining, with the potential for new ideas to be taken back and inculcated in the business in South Africa.