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Operations & Projects

Our portfolio of tier-one assets provides exposure to copper, platinum-group metals, nickel, zinc and other metals essential for the world’s transition to clean energy and a low-carbon economy. Our stakeholders benefit from high-grade, long-life projects with low costs, low-capital intensity and leading ESG programs.

South Africa

Platreef PGM-Nickel Mine

Ownership: Ivanhoe Mines 64%
B-BBEE Partners 26% | Japanese Consortium led by ITOCHU Corporation 10%

The Platreef Project is a tier-one discovery of platinum-group metals, nickel, copper and gold by Ivanhoe Mines’ geologists on the Northern Limb of South Africa’s Bushveld Igneous Complex, the world’s premier platinum producing region. Platreef is distinguished from other Bushveld projects by its remarkable combination of grade, thickness, geometry, scale and potential for significant nickel and copper by-product credits, and is the world's largest undeveloped precious metals project.

Download Integrated Development Plan

770kt

Platreef's Phase 1 concentrator milling capacity

4mtpa

Total combined processing capacity of Phase 1 and 2 concentrators

590koz

Average annual production in ounces of 3PE+Au in Phase 2

95moz

Mineral Resource Base 3PE+AU

2.7mt

Mineral Resource Base of Nickel

#1

Shaft 2 will be the largest hoisting shaft on the African continent

Construction of Phase 1 concentrator was completed on-schedule after the end of the Q2 2024.  Cold commissioning started in July 2024, with water being fed through the concentrator and first ore is scheduled for 2025.  The concentrator will be placed on care and maintenance until H2 2025, as Shaft 1 prioritizes the hoisting of waste from the development required to bring forward the start of Phase 2.

Work continues on the updated feasibility study to accelerate Platreef’s Phase 2, as well as the preliminary economic assessment of the new Phase 3 expansion. Both studies are expected to be completed in the fourth quarter.

 Construction of Platreef’s first 5 MW solar power facility commenced in the Q1 2024 and is expected to be completed in the second half of 2024. The power generated by the plant will support development activities and operations, together with other renewable energy sources that are expected to be introduced over time.

The Platreef Project is projected to become one of the world’s largest and lowest-cost producers of palladium, platinum, rhodium, nickel, copper and gold.

Renewable Power at Platreef

Platreef’s first solar-power plant is currently under construction. The solar-generated power from the plant will contribute to mine development and construction activities, as well as to charging Platreef’s battery-powered underground mining fleet.

Builiding the Largest Hoisting Shaft on the African Continent

The 10-metre diameter Shaft 2, which is required for the Phase 2 expansion, will be among the largest hoisting shafts on the African continent and is currently under construction. Construction of the 104-metre-tall headframe commenced in December 2022. Shaft 2’s headframe will be equipped with up to 8 Mtpa of hoisting capacity.

Tailings

Approximately half of Platreef’s tailings will be pumped back underground and used as to backfill mined-out stopes. The remainder will be deposited in a dry-stack tailings storage facility.

Technical Reports

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Platreef 2022 Feasibility Study, March 2022
Platreef Integrated Development Plan 2020, December 2020
Platreef 2017 Feasibility Study, September 2017
Platreef Project – 2016 Resource Technical Report, June 2016
Platreef Project – Prefeasibility Study NI 43-101 Technical Report, January 2015