China is set to commit $877m into South Africa's platinum industry, in a deal that marks one of its biggest ever African projects outside the energy sector.
According to a term sheet signed last week, Jinchuan Group, a state-owned mining company from the far-west of China, would pay $227m for a 51 per cent stake in Wesizwe, a South African junior mining company.
The Chinese would then invest a further $650m in project finance, in order to develop the flagship Frischgewaagd-Ledig project, near Rustenburg, west of Pretoria.
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