Project Overview
Ivanhoe Mines' Platreef platinum–palladium–rhodium–nickel–gold–copper project is located approximately 280 km
northeast of Johannesburg and 8 km from the town of Mokopane in the Limpopo Province of South Africa.
The Platreef mineralization comprises a variably layered, composite norite-pyroxenite-harzburgite intrusion
that lies near the base of the Northern Limb of the Bushveld Igneous Complex, in contact with
metasedimentary and granitic basement rocks. The Turfspruit Cyclic Unit (TCU) is the main mineralised cyclic
unit at Platreef where pyrrhotite, pentlandite, and chalcopyrite occur as interstitial sulfides and PGEs,
are mainly present as PGE–sulfides, and PGE–Bi–Te and PGE–As alloys.
Underground mining will be via shaft access with 3 phases of production. The main mining methods will be
Longhole Stoping and Drift-and-Fill mining.
Two technical studies issued in early 2025 outline a roadmap for:
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Phase 1: stand-alone 0.77 Mtpa concentrator with dedicated crushing and water recovery circuits.
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Phase 2: expanding to 4.1 Mtpa by Q4 2027 (adding a second larger (3.3 Mtpa) concentrator module).
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Phase 3: scaling to 10.7 Mtpa through two more (3.3 Mtpa) modules by ~2030–2032.
The Phase 2 and 3 design is based on three successive modular 3.3 Mtpa milling and flotation circuits which
were selected based on the concentrator production ramp-up profile. This modular approach with shared
crushing, tailings disposal and concentrate handling circuits, allows for increased processing flexibility
and introduces process redundancy whilst allowing for phasing of capital.
Stream Details
| Date of Contract |
7-Dec-21* |
| Term |
Life of Mine |
| Stream |
62.5% of gold until 218,750 ounces, 50% until 428,300 ounces, then
3.125%
5.25% of palladium and platinum until combined 350,000 ounces, 3.0% until 485,115 ounces,
then 0.1% |
| Upfront Consideration |
412M |
| Delivery Payment Per Ounce |
$100/oz until a total of 428,300 oz of gold
have been received 80% spot thereafter;
30% of the respective spot prices palladium/platinum
until 350kozs delivered, 3.0% until 485,115 and then 0.1% |
| Cost Quartile |
Fourth |
For more information on the Platreef Project, please visit: www.ivanhoemines.com (opens in new tab)