Project Overview
Ivanplats’ (Pty) Ltd 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 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 floor 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 Phase 1 production of 0.7 Mtpa utilizing Shaft 1, ramping up to 5.2 Mtpa in Phase 2 by using Shaft 2 as the primary production shaft. The main mining methods will be Longhole Stoping and Drift-and-Fill mining.
The Phase 1 consists of a stand-alone 0.77 Mtpa small case concentrator with dedicated crushing and water recovery circuits. The Phase 2 concentrator design is based on two modular 2.2 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.
The Platreef Project is fully permitted and currently under construction, with commercial production expected in Q4 2024.
Stream Details
| Date of Contract |
15-Nov-23 |
| Term |
Life of Mine |
| Stream |
62.5% of the payable gold until 218,750 oz delivered, 50% of the payable gold until 428,300 oz delivered, 3.125% of the payable gold thereafter if certain conditions are met
5.25% of the payable palladium and platinum until 350,000 oz of combined palladium and platinum have been delivered, reduced to 3.0% of the payable palladium and platinum production until 485,115 oz have been delivered, 0.1% of the payable palladium and platinum thereafter if certain conditions are met |
| Per Unit Production Payment |
$100 per oz gold until a total of 428,300 oz of gold have been delivered under the gold stream, increasing to 80% of the spot price of gold thereafter
30% of the respective spot prices of palladium and platinum ounces until 485,115 combined ounces have been received, increasing to 80% of the spot price of palladium and platinum thereafter |
For more information on the Platreef Project, please visit: www.ivanhoemines.com (opens in new tab)