A new era of Platinum Beneficiation
Rustenburg – An initiative to encourage the use and application of platinum group metals (PGMs) has received a substantial boost with the re-launch of The Platinum Incubator in the North West Province. The project – which is the only one of its kind in the world – actively seeks to encourage budding entrepreneurs to use PGMs in new and exciting ways that will ultimately benefit all stakeholders.
The new-look, Platinum Incubator is a non-profit organisation that was established in 2006 in partnership with the Platinum Trust of South Africa and the North West Provincial Government with funding by the Department of Small Business Development (formerly the DTI) through the SEDA Technology Programme.
For the past 10 years the Incubator has helped aspiring goldsmiths to build careers in the design and manufacturing of jewellery using platinum, silver, palladium, gold, diamonds and semi- precious stones mined in southern Africa.
Says Wilma Swarts, the chairperson of the Platinum Incubator: “While the Incubator’s historical focus has been on jewellery design and manufacture, it has the potential to play a much broader role in the beneficiation chain by actively promoting and encouraging young inventors, chemists, engineers, scientists, technicians, designers and entrepreneurs to use PGMs in new and exciting ways that will ultimately expand their economic value and benefit the industry accordingly.
By equipping this facility to play a much broader role in the beneficiation chain, we are taking the first step towards reclaiming PGMs as South African minerals of strategic importance.”
The newly-refurbished and equipped incubator is the result of collaboration between government, industry and academia. “It is exciting to see both industry and government coming together to shape the future of South Africa PGMs beneficiation.” Says, The Platinum Incubator, CEO, Ms Sibongile Shongwe.
“As an industry we can provide easy access to PGMs and work closely with academics and experts to ensure high-tech innovation and best of breed within incubation. Over the next three years we aim to reduce government funding from 75% to 50% and increase industry funding to over 30% from its current 3%. We also believe that as we grow and develop our people, there will be a portion of ‘giving back’ to help those SMMEs that follow. This would constitute a self-funding component,” says Swarts.
The boost comes at a critical time for the industry, where metal prices remain under significant downward pressure following reduced demand from traditional segments.
Says Swarts: “As an industry, we have to shift our marketing gears from a predominantly passive, reactive and traditional model to a proactive, innovative and inclusive model, if we are to grow the industry.
“By expanding the remit of the incubator to go beyond jewellery making and design, we aim to collaborate with key stakeholders to create and support markets for manufactured goods and to attract and assist a broad spectrum of South Africans to develop lucrative, self-sustaining businesses within the PGM beneficiation space.”
For more on the re-launch and photo’s: About The Platinum Incubator – For the love of Platinum