About Condoto Platinum
Condoto Platinum holds an agreement on 105,975 hectares in Choco Department, Colombia with the Novita Higher Community Council (see company news release dated January 31, 2012 for details).
Along with Stillwater (USA), Choco is the world’s only significant primary platinum-producing district outside of South Africa, Russia and Zimbabwe. Choco was the world’s sixth-largest source of platinum in 2012 (United States Geological Survey, 2013).
The Choco region is the leading producer of precious metals in Colombia. Small-scale operations in the municipality of Novita and the surrounding communities of Condoto, Tado and Sipi produced 15,317 ounces platinum and 278,702 ounces gold in 2011 (www.upme.gov.co).
Gold and platinum is produced in Choco by rudimentary methods, mainly hydraulic concentration. Condoto Platinum is installing the first modern production equipment in the region. The operation consists of simple Knelson concentrators and Gemini tables, aimed at significantly increasing recoveries of precious metals. The company is also exploring to locate the elusive source rocks for the prolific Choco deposits.
Condoto Platinum is headed by experienced exploration, production, finance, and platinum professionals with a successful operating history in Colombia.