MOKOPANE, SOUTH AFRICA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete are pleased to announce that the company's South African subsidiary, Ivanplats, has concluded stream-financing agreements with Orion Mine Finance and Nomad Royalty Company for a US$200 million gold-streaming facility and a US$100 million palladium- and platinum-streaming facility for its world-scale Platreef palladium-rhodium-platinum-nickel-copper-gold project in Limpopo Province, South Africa.
The proceeds will be used to advance the first phase of Platreef's mine development, with commercial production expected in 2024. The definitive feasibility study for Platreef's phased development plan, which will provide updated production forecasts for the initial mine and subsequent expansion, is nearing completion with release expected in Q1 2022.
Ivanplats also has signed documents relating to offtake arrangements for 100% of Platreef's Phase 1 platinum-group-metals (PGMs) concentrate production, which is expected to be more than 40,000 tonnes per year containing six payable metals, including palladium, rhodium, platinum, nickel, copper and gold.
The offtake arrangements are with Northam Platinum Limited and Heron Metals Pty Ltd., a joint venture in which Trafigura Pte. Ltd. ("Trafigura"), a Singaporean registered company, has a majority shareholding. Northam Platinum is an independent, fully empowered, integrated PGM producer, with primary operations in South Africa including the wholly owned Zondereinde Mine and metallurgical complex, and Booysendal Mine. The Trafigura Group is one of the world's leading independent commodity trading and logistics houses.
The terms of the proposed offtake with Heron Metals / Trafigura are based on a non-binding indicative term sheet and are subject to negotiation and execution of definitive documentation for a concentrate sales agreement.
"The stream financing agreements, which represent a small fraction of Platreef's incredible resource base, and accompanying offtake arrangements are critical milestones in the progression to commercial production for Ivanplats. They provide funding for a significant portion of the mine's initial phase of development, as well as a long-term home for our PGM, nickel and copper concentrates," said Marna Cloete, Ivanhoe Mines' President.
"Advancing Platreef to production also marks another step in Ivanhoe Mines' journey to become the world's next major, diversified mining company; one with top ESG credentials and an industry-leading portfolio of tier-one assets.
"The Platreef Mine is very scalable, and we see the first-phase, 700,000-tonne-per-annum operation as only our starter mine – one that will establish a strategic production foothold on South Africa's Bushveld PGM Complex, and support potential future expansions of this unique orebody, which contains 59 million ounces of platinum, palladium and rhodium plus gold (3PE+Au) in indicated resources and a further 94 million ounces in inferred, in addition to significant quantities of nickel and copper, at a cut-off grade of 1 gram per tonne 3PE+Au.
"Future expansions to 12 million tonnes per annum and beyond, as demonstrated in previous studies, would position Platreef among the world's largest and lowest-cost nickel and PGM mines, producing more than 24,000 tonnes of nickel and 1.1 million ounces of palladium, rhodium, platinum, and gold per year; and help feed the demand for critical electric minerals that the world needs as it transitions to a net-zero future.
"The phased development approach has worked extremely well at Kamoa-Kakula and we consider it to be the optimal strategy to accelerate our growth and diversification across commodities, and maintain a healthy balance sheet. The mineral endowment at Platreef is enormous and we fully intend to continue expanding the mine with the construction of Shaft 2, with the team working hard on opportunities to accelerate its availability for hoisting. We are passionately focused on being part of the solution as the world transitions to clean, renewable energy.
"We also are very pleased to conclude a three-year collective agreement with our employees that values and respects their expertise, their contributions during the pandemic, and their role in building the world's next great mine."
Watch a new video showcasing Platreef:https://vimeo.com/653933836/681b732b3e
Electrician, Mefika Khumalo (left); and Fitter, Agnes Maupye, about to commence with shaft equipping activities.
Fitter Rudolf van Wyk inspecting the Shaft 1 headframe.
Ivanplats secures US$200 million gold stream financing and US$100 million palladium and platinum stream financing
Ivanplats has entered into a gold, palladium and platinum stream financing with Orion Mine Finance, a leading international provider of customized financing to mining companies, and Nomad Royalty Company, a precious metals royalty company, in which Orion Mine Finance is a significant shareholder (Orion Mine Finance and Nomad Royalty Company, together, the "Stream Purchasers"). This transaction will fund a large portion of the Phase 1 capital costs, with initial production scheduled in 2024.
Under the stream agreements, Orion Mine Finance will provide a total of US$225 million in funding, and Nomad Royalty Company will provide US$75 million in funding. The stream facilities are a prepaid forward sale of refined metals, with prepayments totaling US$300 million, available in two tranches with the first prepayment of US$75 million to be paid following the closing of the transaction and US$225 million to be paid upon satisfaction of certain conditions precedent.
Under the terms of the US$200 million gold stream agreement, the Stream Purchasers will receive an aggregate total of 80% of contained gold in concentrate until 350,000 ounces have been delivered, after which the stream will be reduced to 64% of contained gold in concentrate for the remaining life of the facility. The expected life of this facility will extend from the effective date of the stream agreement until the date when 685,280 ounces of gold have been delivered to the Stream Purchasers. The Stream Purchasers will purchase each ounce of gold at a price equal to the lower of the market price of gold or US$100 per ounce.
Under the terms of the US$100 million palladium and platinum stream agreement, Orion Mine Finance will receive an aggregate total of 4.2% of contained palladium and platinum in concentrate until 350,000 ounces have been delivered, after which the stream will be reduced to 2.4% for the remaining life of the facility. The expected life of this facility will extend from the effective date of the stream agreement until the date when 485,115 ounces of palladium and platinum have been delivered to the purchaser, which will pay for each ounce at a price equal to 30% of the market price of palladium and platinum.
The conclusion of the stream agreements allows Ivanplats to focus efforts on finalizing the senior debt facility for up to US$120 million. Societe Generale and Nedbank were appointed as mandated lead arrangers for the project debt facility in early 2021. Both the gold stream facility, and palladium and platinum stream facility, will be subordinated to any senior secured financing.
The senior debt facility is anticipated to be used only after the stream facilities are fully drawn. Ivanplats remains flexible to raise additional debt or equity at a later date, and has pre-agreed with the Stream Purchasers the intercreditor arrangements for any future senior debt. While the stream facilities are guaranteed by Ivanplats and secured over the assets and Ivanhoe's shares of Platreef, there is no recourse to Ivanhoe Mines.
Members of the Orion and Nomad teams with members of Platreef's mine development team at the foundation for the Shaft 2 headframe that is under construction.
Ivanplats arranges offtake for Platreef's Phase 1 production
Ivanplats has signed documents relating to offtake for 100% of Phase 1's PGM concentrate production of at least 40,000 tonnes per year, based on standard commercial terms for PGM mines in South Africa. This reinforces the high quality of Platreef's PGM concentrate, which contains six payable metals including palladium, rhodium, platinum, nickel, copper and gold.
Ivanplats has finalized a PGM concentrate sales agreement with Northam Platinum for 50% of concentrate production from Phase 1 at Platreef, which totals approximately 20,000 tonnes per year. The agreement is in place for a period of ten years, and Ivanplats retains the option to reduce the volume by 5,000 tonnes to an annual total of 15,000 tonnes.
Ivanplats also has signed a non-binding indicative term sheet with Heron Metals, a Trafigura joint venture, relating to the sale and purchase of 50% of the PGM concentrate production from Phase 1 at Platreef, which equals approximately 20,000 tonnes per year, and would also be in place for a period of ten years. Under the proposed terms, Ivanplats retains the option to reduce the volume by 5,000 tonnes to an annual total of 15,000 tonnes. Ivanplats may also elect to receive a provisional payment of 90%, five days after the month of delivery. The final terms of the offtake with Heron Metals remain subject to negotiation and execution of definitive documentation.
Shaft 1 changeover to a production shaft advancing rapidly
As part of the phased development plan, Platreef's 996-metre-deep Shaft 1 will be used to initially access the high-grade Flatreef orebody that has an average thickness of 26 metres – massive when compared to the typical, approximately one-metre-thick reefs being mined elsewhere on South Africa's Bushveld Complex. The remarkably thick Flatreef orebody also is flat-lying, which is ideal for safe, bulk-scale, mechanized mining and processes optimized for maximum ore extraction.
Shaft 1 has three development stations that will provide underground access to Flatreef, on the 750-, 850-, and 950-metre levels. The current focus is on equipping the 950-metre level station with rock-handling and mining infrastructure. The 950-metre level is the lowest mining level, where skip loading will take place – initial lateral development will start from this station.
Shaft 1 will be used to initially access the high-grade Flatreef orebody, with lateral development to commence from the 950-metre-level station.
Changeover construction of the 996-metre-deep Shaft 1 is progressing to plan and is on schedule for commencement of rock hoisting early in 2022.
The 850-metre-level station with all shaft steelwork in place. Following the establishment of a rock-pass system from the 750-metre level to the 950-metre level, development will commence towards the high-grade Flatreef orebody on the 850-metre level.
After the 950-metre level is completed, the higher stations will be provided with rock-tipping and ore-pass infrastructure, with the equipping expected to be completed in early 2022.
The changeover construction at Shaft 1 is progressing to plan and on schedule for commencement of rock hoisting, also early in 2022. All materials, consumables and equipment for the shaft changeover have been procured and all designs completed. The changeover work is being done by Platreef's experienced owners' team with a focus on safety, and a full quality assurance and control system is in place.
The winder that was used to sink and equip Shaft 1 will be the permanent rock, personnel and material winder following the shaft-equipping phase. The shaft will be equipped with two 12.5-tonne skips with a fixed man and material cage installed above the skips in both compartments, an optimization that will allow for an increase in hoisting capacity which will be discussed in the forthcoming definitive feasibility study.
Lateral mine development on the 950-metre level toward the Flatreef ore body is expected to begin in Q2 2022. The initial development will use battery-electric M2C drill rigs and 14-tonne load haul dumpers being manufactured by Epiroc, a leading mining equipment manufacturer, at its facilities in Örebro, Sweden. The partnership with Epiroc for emissions-free mining equipment is an important first step towards reducing the carbon footprint of the mine, with learnings to be employed across Ivanhoe Mines' operations.
The battery-electric mining fleet is expected to arrive on site in early 2022. Ivanplats plans to install solar photovoltaic cells to recharge the electric fleet's batteries.
The contract for the initial mine development has been adjudicated and is in the final stages of negotiation. Newly designed rock chutes on surface will connect the conveyors feeding the concentrator plant and the waste rock area; from there the waste rock will be crushed and used as cemented backfill underground for maximum ore extraction, as well as for protection berms to contain storm water and reduce noise emissions.
The waste-rock conveyor from Shaft 1 is progressing to plan with all mechanical and electrical orders well advanced. Delivery of the stacker is planned for February 2022 and the complete waste conveyor load-out system is expected to be fully operational shortly thereafter.
Pilot drilling of the first main ventilation shaft will commence in 2022, after which it will be reamed to its final diameter of 5.1-metres, providing the main return airway for the Phase 1 development. On completion, this ventilation shaft also will serve as a second egress from the mine.
Crew constructing the new waste-rock conveyor system at Platreef's Shaft 1 headframe. A second conveyor system also will be installed to feed the concentrator plant with high-grade ore from underground mining.
Manufacturing and assembly of a battery-electric, mechanized drill rig at the Epiroc facilities in Örebro, Sweden (a Boomer M2C drill rig) that will be used for underground development. Delivery is expected early in 2022.
Members of Platreef's mine development crew preparing to go underground. Their work currently is focused on completing the equipping of Shaft 1 as Platreef's initial production shaft.
Shaft 2 headframe construction well underway, with plans to accelerate completion
Early surface construction for Shaft 2 began in 2017, including the excavation of a surface box-cut to a depth of approximately 29 metres below surface, and construction of the concrete hitch for the 103-metre-tall concrete headframe (headgear), which will house the shaft's permanent hoisting facilities and support the shaft collar. The Shaft 2 headframe construction, from the hitch to the collar level, is progressing well with completion expected in May 2022.
With the possibility of increased hoisting capacity at Shaft 1, the mining and engineering teams, in conjunction with leading consultants, is evaluating changes to the sinking methodology for Shaft 2 to significantly accelerate the availability of the shaft for hoisting, compared to the previously released preliminary economic assessment.
Aerial view of current progress at Platreef, with the Shaft 2 headframe construction site on the right, and the headframe for Shaft 1 on the left.
Platreef's 103-metre-high main Shaft 2 superimposed on the right, will be constructed from the hitch to the collar (at surface). The headframe for Shaft 1 is on the left.
Ivanplats launches inaugural cadetship program for local youthIvanplats launches inaugural cadetship program for local youth
Ivanplats recently launched its first cadetship program, providing opportunities to 50 local youth every year. The program seeks to enhance gender diversity, with 54% of the learners being female; and offers a national certificate in health and safety, as well as mining competencies, such as utility vehicle operations.
In collaboration with South Africa's Murray & Roberts Training Academy, Ivanplats established a training facility in Mokopane, which will include e-learning, equipment simulators, and professional coaching. Cadets will be instructed in underground mining and engineering, and prepared for skilled jobs like those that will be needed at Platreef.
"We are committed to mining in a responsible way, where sustainable benefits are actively shared with our neighbours and local communities," explained Dr. Patricia Makhesha, Ivanhoe Mines' Executive Vice President, Sustainability and Special Projects. "Skill development and education efforts like the cadetship program nurture talented, local workforces; and prepare many bright, young women and men for skilled opportunities in South Africa's mining industry, which is set to play a very important role in supplying minerals critical for the world-wide transition to clean energy.
"Ivanplats is excited about the community-training facility in Mokopane, and welcoming our inaugural cadet class. Platreef will be proudly developed under strong partnerships and alongside local communities. Our culture is the heartbeat of the organization and is rooted in a deep commitment to the sustainable development path.
Ivanplats Senior Human Capital Manager, Jacques Malan, welcoming the new cadets from Mokopane local communities.
Construction of the concrete foundation for Platreef's Shaft 2 headframe. Shaft 2 will have a finished and concrete-lined internal diameter of 10 metres, and be sunk to a final depth of 1,104 metres below surface.
Equipment Operator Evelyn Mafafo, a member of Platreef's mine development team. Ivanhoe has prioritized an increase in the number of female employees at all of its mine development projects.
Ivanplats' COVID-19 readiness initiatives prioritize vaccination campaign and risk mitigation
The medical, safety and management teams at Ivanplats actively monitor the COVID-19 pandemic. Protocols are continuously reviewed and optimized based on available data and public health guidelines; as a result, Ivanplats has implemented several measures to prevent and mitigate the escalation of infections and the impact on operations.
Those measures include the mass testing of all employees, contractors and visitors, provision of transport to employees and a vaccination rollout. By the end of November 2021, a total of 5,212 COVID-19 tests had been conducted.
In support of the National Department of Health's national vaccine rollout strategy, Ivanplats launched an on-site COVID-19 vaccination campaign. Approximately 86% of the Platreef Project's employees and contractors working on site have at minimum received their first vaccine dose.
Rigorous testing, physical distancing, wearing face masks, frequent hand washing, and contact-tracing measures remain in place to protect the safety and health of the workforce and community members. The project's preventative measures are at the highest international standards. Following a COVID-19 risk assessment review, Ivanplats is currently developing a mandatory vaccination policy, which it intends to implement in early 2022.
As previously reported, there have been some recent Omicron-variant infections among employees and contractors working at the Platreef Project; all people infected to date have either been asymptomatic or experienced very mild symptoms. The rate of infection observed across the workforce has been over four times higher in unvaccinated individuals.
The department of health has approved a COVID-19 quarantine facility in the local village of Masodi for Platreef employees and contractors who cannot safely isolate at home. The current occupancy is zero.
Nurse Edith Manamela (left) administering a COVID-19 test on Surveyor Akila Mokwena prior to commencing his shift.
Shaft Sinking and Construction Manager Apie Pretorius was among the 86% employees and contractors who have received their COVID-19 vaccinations.
In anticipation of the fourth wave of Covid-19 infections, Platreef has introduced an electronic facial-recognition and fever-screening system at all access points to ensure effective screening and control.
Lawrence Monama sanitizing the shared spaces at the Shaft 1 bank area.
Kamoa-Kakula monthly update to be issued within the week
Ivanhoe Mines also announces that the November progress update for the Kamoa-Kakula Copper Mine in the Democratic Republic of Congo is expected to be issued within the next week.
About the Platreef Project
The Platreef Project is owned by Ivanplats (Pty) Ltd (Ivanplats), which is 64%-owned by Ivanhoe Mines. A 26% interest is held by Ivanplats' historically-disadvantaged, broad-based, black economic empowerment (B-BBEE) partners, which include 20 local host communities with approximately 150,000 people, project employees and local entrepreneurs. Ivanplats reached Level 4 contributor status in its most recent verification assessment on the B-BBEE scorecard. A Japanese consortium of ITOCHU Corporation, Japan Oil, Gas and Metals National Corporation, and Japan Gas Corporation, owns a 10% interest in Ivanplats, which it acquired in two tranches for a total investment of $290 million.
The Platreef Project hosts an underground deposit of thick, platinum-group metals, nickel, copper and gold mineralization on the Northern Limb of the Bushveld Igneous Complex in Limpopo Province – approximately 280 kilometres northeast of Johannesburg and eight kilometres from the town of Mokopane.
On the Northern Limb, platinum-group metals mineralization is primarily hosted within the Platreef, a mineralized sequence that is traced more than 30 kilometres along strike. Ivanhoe's Platreef Project, within the Platreef's southern sector, is comprised of two contiguous properties: Turfspruit and Macalacaskop. Turfspruit, the northernmost property, is contiguous with, and along strike from, Anglo Platinum's Mogalakwena group of mining operations and properties.
Since 2007, Ivanhoe has focused its exploration and development activities on defining and advancing the down-dip extension of its original discovery at Platreef, now known as the Flatreef Deposit, which is amenable to highly-mechanized, underground mining methods. The Flatreef area lies entirely on the Turfspruit and Macalacaskop properties that form part of the company's mining right.
Qualified Persons and NI 43-101 Technical Report
In December 2020, Ivanhoe Mines filed a new National Instrument 43-101 (NI 43-101) technical report titled "Platreef Integrated Development Plan 2020" with an effective date of December 6, 2020 (Platreef IDP20).
The Platreef IDP20, which includes the Platreef 2020 FS and Platreef 2020 PEA, was independently prepared by OreWin Pty Ltd. of Adelaide, Australia; Wood plc (formerly Amec Foster Wheeler) of Vancouver, Canada; SRK Consulting Inc. of Johannesburg, South Africa; Stantec Consulting International LLC of Phoenix, USA; DRA Global of Johannesburg, South Africa; and Golder Associates Africa of Midrand, South Africa.
These technical reports include relevant information regarding the effective dates and the assumptions, parameters and methods of the mineral resource estimates on the Platreef Project cited in this news release, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this news release in respect of the Platreef Project.
Other scientific and technical information in this news release has been reviewed and approved by Stephen Torr, P.Geo., Ivanhoe Mines' Vice President, Project Geology and Evaluation, a Qualified Person under the terms of NI 43-101. Mr. Torr is not considered independent under NI 43-101 as he is the Vice President, Project Geology and Evaluation of Ivanhoe Mines. Mr. Torr has verified the technical data disclosed in this news release.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the Democratic Republic of Congo and at the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the Democratic Republic of Congo.
Kamoa-Kakula began producing copper concentrates in May 2021 and, through phased expansions, is positioned to become one of the world's largest copper producers. Kamoa-Kakula is being powered by clean, renewable hydro-generated electricity and is projected to be among the world's lowest greenhouse gas emitters per unit of metal produced. Ivanhoe Mines has pledged to achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Copper Mine. Ivanhoe also is exploring for new copper discoveries on its Western Foreland exploration licences in the Democratic Republic of Congo, near the Kamoa-Kakula Project.
Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604.558.1034
Cautionary statement on forward-looking information
Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of the company, the Platreef Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results, and speak only as of the date of this news release.
The forward-looking statements and forward-looking information in this news release include without limitation, (i) statements regarding the funding and drawdown under the stream agreements, (ii) statements regarding the offtake arrangements and that the offtake arrangements with Trafigura remain subject to negotiation and execution of definitive documentation; (iii) statements regarding the establishment of the senior project debt facility, and its term and conditions, (iv) statements regarding the timing of the first draw of the streaming facility and that the senior project debt facility would only be utilized after the streaming facility is fully drawn; (v) statements regarding the acceleration of Shaft 2 development or commissioning; (vi) statements that Platreef is scheduled for production in 2024; (vi) statements that the definitive feasibility study for phased expansion is expected early 2022; (vii) statements that changeover construction at Shaft 1 is progressing to plan and is on schedule for commencement of rock hoisting early in 2022; (viii) statements that lateral mine development on the 950-metre level toward the high-grade Flatreef ore body is expected to begin in Q2 2022; (ix) statements that the battery-electric mining fleet is expected to arrive on site in early 2022; (x) statements regarding the expected scheduling around the sinking of Shaft 2. In addition, all of the results of the Platreef IDP20, Platreef 2020 PEA and Platreef 2020 FS constitute forward-looking statements and forward-looking information.
All such forward-looking information and statements are based on certain assumptions and analyses made by Ivanhoe Mines' management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, industrial accidents or machinery failure (including of shaft sinking equipment), or delays in the development of infrastructure, and the failure of exploration programs or other studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Other important factors that could cause actual results to differ from these forward-looking statements also include those described under the heading "Risk Factors" in the company's most recently filed MD&A as well as in the most recent Annual Information Form filed by Ivanhoe Mines. Readers are cautioned not to place undue reliance on forward-looking information or statements. Certain of the factors and assumptions used to develop the forward-looking information and statements, and certain of the risks that could cause the actual results to differ materially are presented in the "Platreef Integrated Development Plan 2020", available on SEDAR at www.sedar.com and on the Ivanhoe Mines website at www.ivanhoemines.com.
This news release also contains references to estimates of Mineral Resources and Mineral Reserves. The estimation of Mineral Resources and Mineral Reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource or Mineral Reserve estimates may have to be re-estimated based on, among other things: (i) fluctuations in platinum, palladium, gold, rhodium, copper, nickel or other mineral prices; (ii) results of drilling; (iii) results of metallurgical testing and other studies; (iv) changes to proposed mining operations, including dilution; (v) the evaluation of mine plans subsequent to the date of any estimates; and (vi) the possible failure to receive required permits, approvals and licences.
Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
南非波特希特斯 — 艾芬豪矿业 (TSX: IVN; OTCQX:IVPAF) 执行联席董事长罗伯特·弗里兰德 (Robert Friedland) 及总裁玛娜·科洛特 (Marna Cloete) 今天欣然宣布，公司的南非子公司Ivanplats 已就其位于南非林波波省的普拉特瑞夫 (Platreef) 世界级钯-铑-铂-镍-铜-金矿项目与猎户座矿业金融集团 (Orion Mine Finance) (以下简称"猎户座") 及 Nomad Royalty Company签订2亿美元的黄金金属流及1亿美元的钯-铂金属流融资协议。
此外，Ivanplats签署与普拉特瑞夫 I 期100% 产量包销协议相关的文件，预计年产超过4万吨铂族金属精矿，包含6种计价金属：钯、铑、铂、镍、铜和金。
Ivanplats分别与Northam Platinum Limited和Heron Metals Pty Ltd.签署包销协议，Heron Metals Pty Ltd.是Trafigura Pte. Ltd. (以下简称"托克"）的合资企业，Trafigura Pte. Ltd. 注册在新加坡，持有Heron Metals多数股权。Northam Platinum 位于南非瀑布城，是一家独立的综合铂族金属生产商，主要在南非从事业务，包括其全资拥有的Zondereinde矿山和冶炼项目以及Booysendal矿山。托克是领先国际的独立商品贸易和物流公司。
"普拉特瑞夫矿山拥有巨大的发展潜力，我们以 I期70万吨/年产能作起步，将在南非布什维尔德铂族金属成矿带建立战略性生产据点，并于日后进行扩建以充分开发这独特的矿产资源，含有5,900万盎司的铂金、钯、铑及黄金 (3PE+Au) 的探明资源和额外9,400万盎司推断资源，以及大量镍和铜金属 (以边界品位1克/吨3PE+Au计算)。"
"卡莫阿-卡库拉 (Kamoa-Kakula) 分期开发方案的实施极为理想，我们认为这是加快商品扩产和多元化的最佳策略，并有助于我们保持稳健的财务状况。普拉特瑞夫蕴藏着巨大的矿产资源，我们将会建设2号竖井以全力推进矿山的扩建计划，现场团队正努力奋进以求加快实现其作为提升设施的可能性。我们正积极地全力发展成为世界迈向清洁和可再生能源未来的解决方案之一。"
电工Mefika Khumalo和装配工Agnes Maupye准备就绪开展竖井装配工作。
装配工Rudolf van Wyk 在检查1号竖井的井架。
Ivanplats已就黄金、钯及铂金属流融资与猎户座及Nomad Royalty Company 达成协议。猎户座是世界领先的金融集团，为矿业公司提供定制化的融资。Nomad Royalty Company是一家拥有贵金属特许使用权的公司，猎户座是该公司的大股东之一 (猎户座及Nomad Royalty Company统称为"金属流买方")。交易将为I期大部分的资本开支提供资金，项目将于2024年实现首产。
根据金属流协议，猎户座将为项目提供总计2.25亿美元的资金，Nomad Royalty Company则会提供7,500万美元的资金。金属流融资是指买方以预付金额购买预售的精炼金属，预付款总额为 3 亿美元，分两期支付，第一期预付款7,500万美元将于交易结束时支付，剩余的2.25亿美元将在满足若干先决条件后支付。
根据 2 亿美元黄金金属流协议的条款，金属流买方将获得精矿所含黄金的80%，直至交付量达35万盎司，其后将减少至协议剩余有效期生产精矿所含黄金的64%。协议有效期将从金属流协议的生效日期，直至向金属流买方提供的交付量达685,280盎司黄金当日结束。金属流买方将按相等于黄金市价或100美元/盎司 (以较低者为准) 的价格购买每盎司黄金。
根据 1 亿美元钯-铂金属流协议的条款，金属流买方将获得精矿所含钯及铂金的4.2%，直至交付量达35万盎司，其后将减少至协议剩余有效期相关产量的2.4%。协议有效期将从金属流协议的生效日期，直至向金属流买方提供的交付量达485,115盎司钯和铂金当日结束。金属流买方将按相等于钯及铂金市价30%的价格购买每盎司钯及铂金。
猎户座和 Nomad 团队成员以及普拉特瑞夫矿山开发团队的成员在施工中的2号竖井井架地基前。
Ivanplats 与 Northam Platinum已就普拉特瑞夫I期50%铂族金属精矿产量完成了一项销售协议，总计约2万吨/年。协议有效期10年，Ivanplats保留减少5,000吨至每年15,000吨的选择权。
Ivanplats还与托克的合资企业Heron Metals已就普拉特瑞夫I期50%铂族金属精矿产量的买卖协议签署非约束性指示条款书，产量相等于矿山十年期间每年生产约2万吨/年。 根据提议的条款，Ivanplats保留可减少产量5,000吨至每年15,000吨的选择权。 Ivanplats 可选择在交付月后五天收取90%的临时付款。 Ivanplats与Heron Metals的最终包销协议仍需完成最终文件的谈判和签署。
1号竖井的废石输送系统正按计划推进，所有机械和电气订单的进度顺利。堆料输送机将于 2022 年 2 月交付，其后，预计整个废石输送系统将于短期内全面运行。
c厂房生产和组装的机械化电动钻机 (Boomer M2C钻机)，将用于矿山的地下开拓工程，预计于 2022 年初运抵现场。
2号竖井的早期地表工程已于2017年展开，包括地表以下约 29 米深的开口以及建造103米高的混凝土井架的地基。该井架将设有竖井的永久提升设施并将用于支撑井口。2号竖井井架 (从地基至井口) 的建设工程进度理想，预期2022年5月完工。
Ivanplats近日推出首个学员计划，每年为50名当地学员提供学习机会。学员计划旨在加强性别多样化，其中54%的学员都是女性。计划包括职业安全以及采矿技能 (例如操作工程车) 的国家认可证书课程。
Ivanplats 与南非的 Murray & Roberts 培训学院合作，在波特希特斯建设培训设施，包括网络学习、设备模拟器和专业指导为学员提供培训。学员将会接受地下采矿和工程方面的训练，为日后从事技术工作做好准备，比如普拉特瑞夫所需的工种。
艾芬豪矿业可持续发展与特殊项目执行副总裁帕翠莎·马凯莎 (Patricia Makhesha) 解释说﹕"我们致力以负责任的方式进行采矿作业，与我们的邻居及当地社区积极共享可持续利益。通过技能培训和教育，学员计划将培养人才和当地的劳动力，并为有才干的年青男女做好将来从事南非采矿业熟练工种的准备，在矿产资源供应方面担任重要的角色，促进全球走向清洁能源的转型。"
设备操作员 Evelyn Mafafo是普拉特瑞夫矿山开发团队的成员。艾芬豪在所有矿山开发项目中致力增加女性员工的人数。
为配合国家卫生部推行的全国疫苗接种计划，Ivanplats 在矿山现场为员工接种COVID-19 疫苗，至今普拉特瑞夫项目约86% 的现场员工和承包商已接种了至少一剂疫苗。
护士Edith Manamela为测量员Akila Mokwena在轮班前进行COVID-19检测。
普拉特瑞夫项目由 Ivanplats (Pty) Ltd. (以下简称 "Ivanplats") 持有，艾芬豪矿业持有Ivanplats公司64%的股权。由《全面提高黑人经济实力法案》(B-BBEE) 的南非受益人持有项目26%的股权，这些受益人包括 20 个当地社区，约150,000 位居民、项目雇员和当地企业主。Ivanplats 在最近 B-BBEE 评分核实评估中达到 4 级贡献者标准。另外，伊藤忠商事株式会社、日本石油天然气和金属国家公司和日本天然气公司组成的日本财团通过 2 轮投资 (共 2.9 亿美元) 持有 Ivanplats 10% 的股权。
在北翼，铂族金属矿化主要赋存在普拉特瑞夫层位，走向延伸30多公里。艾芬豪的普拉特瑞夫项目位于普拉特瑞夫南部，由Turfspruit及Macalacaskop两个相连的矿权组成。最北部的 Turfspruit 矿权，邻近且位于英美铂金 (Anglo Platinum) Mogalakwena 矿山的走向延伸上。
自2007 年以来，艾芬豪重点推进勘查和开发活动，以圈定普拉特瑞夫矿体的深部延伸，目前已命名为 Flatreef 矿床，适合高度机械化的地下开采。整个Flatreef 矿区位于 Turfspruit 和 Macalacaskop 采矿权范围内。
合资格人及符合NI 43-101 标准的技术报告
艾芬豪矿业于2020年12月提交一份名为 "2020年普拉特瑞夫综合开发方案" 的加拿大矿产项目披露标准43‐101 (以下简称 "NI 43-101") 最新技术报告，该报告自2020年12月6日起生效 (以下简称 "普拉特瑞夫IDP20")。
普拉特瑞夫IDP20，包含2020年普拉特瑞夫可行性研究 (以下简称 "普拉特瑞夫2020 FS") 和2020年普拉特瑞夫初步经济评估 (以下简称 "普拉特瑞夫2020 PEA")，由澳大利亚阿德莱德的OreWin Pty Ltd.、加拿大温哥华的Wood plc (前为Amec Foster Wheeler)、南非约翰内斯堡的SRK Consulting Inc.、美国凤凰城的Stantec Consulting International LLC 、南非约翰内斯堡的DRA Global以及南非米德兰的Golder Associates Africa独立编撰。
本新闻稿载有的其他科学和技术信息，已经由艾芬豪矿业项目地质及评估副总裁斯蒂芬·托尔 (Stephen Torr) 审阅和批核。托尔先生是符合NI 43-101 条款下的合资格人。由于托尔先生是艾芬豪矿业项目地质及评估副总裁，因此他并不符合NI 43-101 对独立人士的界定。托尔先生已核实本新闻稿所披露的技术数据。
艾芬豪矿业是一家加拿大的矿业公司，正在推进旗下位于南部非洲的三大合资项目：位于刚果民主共和国的卡莫阿-卡库拉 (Kamoa-Kakula) 铜矿和位于南非的普拉特瑞夫钯-铑-铂-镍-铜-金矿的大型机械化地下矿山开发工程；以及同样位于刚果民主共和国、久富盛名的基普什 (Kipushi) 锌-铜-锗-银矿的大型重建和改善工程。
卡莫阿-卡库拉铜矿项目于2021年5月实现铜精矿生产，未来将分阶段进行扩建，预计将会成为全球最大规模的铜生产商之一。卡莫阿-卡库拉使用清洁、可再生的水电，并将成为世界上每单位金属温室气体排放量最低的矿山之一。艾芬豪矿业已作出承诺，卡莫阿-卡库拉铜矿将致力实现净零运营温室气体排放 (范围一和二)。同时，艾芬豪正在刚果民主共和国境内、毗邻卡莫阿-卡库拉项目的西部前沿 (Western Foreland) 探矿权内寻找新的铜矿资源。
投资者﹕比尔·特伦曼 (Bill Trenaman)，电话﹕+1.604.331.9834 / 媒体﹕马修·基维尔 (Matthew Keevil)，电话﹕ +1.604.558.1034
该等陈述包括但不限于下列事项的时间点和结果﹕(i) 关于金属流协议项下的资金和提款的陈述；(ii) 关于包销协议的安排，以及与托克集团的包销协议仍需完成最终文件的谈判和执行的陈述；(iii) 关于项目的高级债务融资以及其条款和条件的陈述；(iv) 关于金属流融资首次提款的时间点，以及项目高级债务融资仅在金属流融资全额提取后才能使用的陈述；(v) 关于2号竖井将于2026年投产，并于2026年底开始矿石提升的陈述；(vi) 关于普拉特瑞夫将于2024年实现投产的陈述； (vi) 关于分期开发方案的最终可行性研究将于2022年初发布的陈述；(vii) 关于1号竖井转换为生产井的工程按计划正进行中，并将于2022年初开始矿石提升的陈述；(viii) 关于预计2022年第二季度开始在950米中段进行水平巷道开拓，向Flatreef高品位矿体推进的陈述；(ix) 关于电动采矿设备将于2022年初运抵现场的陈述；(x) 关于2号竖井将于2023年中开展凿井工程，预计将于2026年底实现投产的陈述。另外，普拉特瑞夫IDP20、普拉特瑞夫2020 PEA及普拉特瑞夫2020 FS的所有结果均构成前瞻性陈述及前瞻性信息。
所有该等前瞻性信息和陈述乃基于艾芬豪矿业管理层就他们的经验和对于过往趋势、目前条件和预期未来发展的看法，以及管理层在此情况下认为恰当的其他因素而作出的某些假设和分析。然而，这些陈述涉及不同风险和不明朗因素以及其他因素，可能导致实际事件或业绩与前瞻性信息或陈述所预测的有重大差异，包括但不限于有关部门实施的法例、法规或规章或其无法预计的修订、合约各方未能根据协议履行合约、社会或劳资纠纷、商品价格的变动、基础设施出现无法预计的故障或设施不足、工业事故或机械故障 (包括竖井凿井设备)、或延迟开发基础设施；以及勘探计划或其他研究未能达到预期结果或用作证明和支持继续研究、开发或运营的结果。可能导致实际业绩与前瞻性陈述有差异的其他重要因素包括本公司最近提交的管理层讨论与分析报告内以及艾芬豪矿业最近提交的周年信息报告内"风险因素"部分所指的因素。读者请注意不应过度依赖前瞻性信息或陈述。用作编撰前瞻性信息和陈述的某些因素和假设，以及可能导致实际业绩产生重大差异的某些风险均载于SEDAR (www.sedar.com) 及艾芬豪矿业网站 (www.ivanhoemines.com) 内的"2020年普拉特瑞夫综合开发方案"。
本新闻稿还载有矿产资源和矿产储量估算的参考信息。矿产资源和矿产储量估算未能确定，并涉及对许多有关因素的主观判断。矿产资源并非矿产储量，并不显示具有经济潜力。任何该等估算的准确性是可用数据的数量和质量函数，并根据工程和地质诠释的假设和判断而作出，可能被证明是不可靠，在一定程度上取决于钻孔工程结果和统计推论的分析，而最终可能证明是不准确的。矿产资源或矿产储量估算可能需要根据下列因素作出重新估算﹕(i) 铂金、钯、黄金、铑、铜、镍或其他矿产价格的波动；(ii) 钻孔工程的结果；(iii) 冶金测试和其他研究的结果；(iv) 更改建议采矿作业，包括贫化；(v) 在任何估算日期后作出的采矿计划评估；以及(vi) 未能取得所需准许、批准和许可证的可能性。