The club was the historical descendant of Khakhu Fast XI, that initially were founded as an amateur club in 1937, and represented the local city Khakhu – located 170 km northeast of
Polokwane. Ahead of the 1998–99 season, the club owner
Joseph Mapfulagasha, relocated the team approximately 30 km south to the city
Mapate, and at the same time changed the name of the club to
Mapate Silver Stars. Along with the new official name, a trend also developed to nickname the team as Tycoon Silver Stars, as the new owner Joseph Mapfulagasha was commonly known by the nickname "Tycoon". In the first season of Mapate Silver Stars, the club straight away won promotion from
Vodacom League, to play the subsequent season in the second tier of professional football in
South Africa, known as the
National First Division. Starting from the 2000–01 season and a few years ahead, the club became shortly affiliated with the reborn phoenix club
Highlands Park, which were founded on the remains of the well-known and successful original Highlands Park, that played at the top flight level of South African football from November 1959 to February 1983, at
Balfour Park Stadium in the northern
Johannesburg suburb
Highlands North. The historical fan base of Highlands Park, were located in the surrounding affluent (and highly Jewish) northern Johannesburg neighbourhoods, such as
Houghton,
Saxonwold,
Sydenham,
Glenhazel, Highlands North,
Rosebank,
Killarney, Linksfield and
Cyrildene. In 1996 the longtime fan and businessman
Larry Brookstone, purchased Highlands Park out of a previous bankruptcy, and re-established them as an amateur club. When he in 2000 also opted to purchase 50% of the shares in Mapate Silver Stars, and became the managing director of the club, he decided to start a collaboration between both of his two clubs, where the Highlands Park juniors -located at
Highlands North, initially became the nursery team of Silver Stars, that played all their professional home matches 309 km northeast of Highlands North, at the big
Peter Mokaba Stadium in
Polokwane. In order to reflect this unique collaboration, the name of the professional club also changed ahead of the 2000–01 season, to
HP Silver Stars. This new building complex was modernized and improved ahead of the
2010 FIFA World Cup, with the facilities being used by
England during the tournament. At that point of time, Platinum Stars also hosted and lost a 3–0 friendly game to the
England national football team, being the latter's final warm-up match, ahead of their World Cup opener at 7 June 2010. As the ambitions of Platinum Stars were higher than the achieved results in the last three seasons, the club decided to re-employ their former top coach
Owen Da Gama, for the current 2010–11 season. In January 2013, Platinum Stars hosted the
Algeria national team in a friendly match as part of the latter's preparation for the
2013 Africa Cup of Nations. Algeria won the match 4–1 with
Joshua Sauls scoring the lone goal for Platinum Stars from the penalty spot. In the 2013–14 season, Stars won the
2013 MTN 8 and the
Telkom Knockout, beating
Orlando Pirates in both finals. The TKO final was won in spectacular fashion with
Mogakolodi Ngele who came in after the 75th minute and scored a brace in the last 12 minutes to win 2–1 after leading 1–0 from the first half. In July 2014, Stars announced that their new technical sponsor replacing
Umbro will be
Acelli until 2017. The sponsor also gave the club R3 million. ==Honours==