Ivanhoe celebrates Platreef development milestones
Canadian mining company Ivanhoe Mines has celebrated the achievement of three major development milestones at its Platreef platinum/palladium/nickel/rhodium/gold/copper mine in Limpopo, South Africa.
The milestones include the completion of construction of the four-million-tonne-a-year Shaft #3; the breaking of ground for the Phase 2 concentrator site; and the start of widening of Shaft #2.
These project milestones are a major advancement for the Phase 2 expansion and the future Phase 3 expansion," the company states.
“The Platreef mine is not a typical South African precious metals mine scratching at narrow, 1-m-thick seams. The mine is a once-in-a-generation geological wonder . . . a discovery so vast that it will be producing precious metals for generations to come. The flat-lying orebody is approximately 25 times thicker than our industry incumbents, averaging 26 m of continuous mineralisation . . . thickness means scale, which means mechanisation, and mechanisation means lower costs and safer operations.
“We are ramping up the mine at a time when metal prices are rising. Scarcity is real and the demand is relentless. Platinum, palladium, rhodium, copper and nickel are identified by countries all around the globe as critical minerals and, therefore, strategic to the agenda of many of the world’s developed and developing economies,” Ivanhoe founder and co-chairperson Robert Friedland comments.
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