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Sable Platinum Mining (Pty) Ltd - Introduction

Sable Platinum Mining (Pty) Ltd was formed in 2006 by James Allan, Rene Hochreiter and David Levithan with a view to applying for, and acquiring, platinum prospecting rights and taking these up the value curve.

The company was listed on the Johannesburg Stock Exchange in 2012 and, with the downturn in the platinum market, diversified into vanadium and iron ore. Sable Platinum Limited then became Sable Metals and Minerals. A number of prospecting rights for vanadium and iron ore were applied for and two were granted on Uitvalgrond Portion 3 and Doornpoort 295 JQ.

An agreement was signed in 2015 to sell these rights, and the right to participate in Syferfontein and Uitvalgrond Portion 2, to Bushveld Minerals Limited
(www.bushveldminerals.com) for cash and a royalty payment on ore mined. Bushveld Minerals is listed on the London Stock Exchange's AIM. Bushveld has also acquired the Vametco Mine and vanadium plant immediately adjacent to one of the properties (Uitvalgrond Portion 3) and it is this property that will likely be mined first to supply ore to the Vametco plant.

During 2015 an agreement was signed between the listed company Sable Metals and Minerals Limited and Broken Land Adventures (Pty), (BLA), whereby BLA subscribed for 45% of the company and, in terms of this restructuring, the unlisted company Sable Platinum Mining (Pty) issued shares to shareholders in Sable Metals and Minerals Limited. Sable Metals then became an unlisted company holding the proceeds from the sale to Bushveld Minerals and assuming the liabilities of Sable Metals and Minerals Limited for a payment of R6m. The listed vehicle, Sable Metals and Minerals Limited, was renamed Middle East Diamond Resources Limited (www.mediamonds.co.za) and the name Sable Metals and Minerals Limited has been reserved for Sable Platinum Mining Limited.

Sable Platinum Mining Limited will in due course change its name to Sable Metals and Minerals Limited and is currently building a multi-purpose, semi-mobile plant to process tailings from either chrome, ferrochrome, tin or gold. Negotiations are underway to process a tin tailings dump.

Web page updated: 19 July, 2019
Web Design: G Hochreiter; hochreiter@mweb.co.za