BAKU, Azerbaijan, March 24. ITOCHU Corporation,
headquartered in Minato-ku, Tokyo, announced an additional capital
investment in ITC Platinum Development Ltd. (IPTD), a Japanese
consortium established by ITOCHU, the Japan Organization for Metals
and Energy Security (JOGMEC), and other partners, Trend reports.
Through IPTD, ITOCHU holds a combined 10% stake in the Platreef
Mine, located in the northern limb of South Africa’s Bushveld
Igneous Complex. The mine is one of the world’s largest precious
metals projects under development, with long-term plans to expand
and become a major producer of primary platinum group metals,
including platinum, palladium, rhodium, as well as nickel, gold,
and copper. Its extensive resource base supports safe, efficient,
and large-scale mechanized mining operations.
Phase 1 of the Platreef Mine began operations with an opening
ceremony on November 18, 2025. The ramp-up of the Phase 1
concentrator to full capacity is ongoing, while development for the
Phase 2 expansion has started, with completion expected by the end
of the fourth quarter of 2027.
The metals produced at Platreef are essential for various
industrial applications. ITOCHU retains off-take rights
proportional to its stake in the mine and aims to contribute to a
stable supply of these critical metals to Japan.
