This case deals with the problems that Platmin faces as it heads toward full production at a new open-cast mine in Pilanesberg, South Africa. Platmin is in a very difficult situation that is affecting the viability of the operation. The main issue is the timing of the production — investment in mining is typically heavy in the beginning, but when the mine starts producing, payback of loans is usually substantial. Any delay in production has an exaggerated effect on the payback period and, by extension, the viability of the mine. The second major issue is the economic downturn, which has seen the price of platinum decline substantially; however, this may benefit Platmin because it is a low-cost producer, and the downturn has led to some competitors leaving the industry or “mothballing” operations that are not viable at the current platinum price. On the other hand, while Platmin is seeing a shakeup in the industry, it is experiencing pressures on its margins, and this also has an effect on its capital funding.