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Ivanhoe completes production shaft 1 at Platreef, expects first metal production in Q3 2024

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(Kitco News) - Ivanhoe Mines (TSX: IVN) announced today the completion of the shaft 1 production changeover at the company's tier-one Platreef palladium, rhodium, nickel, platinum, copper and gold project in South Africa.

The company said that shaft 1 will serve as Platreef's initial production shaft and is approximately 450 metres away from the first high-grade area of the Flatreef orebody scheduled to be mined during Phase 1 production.

On April 22, 2022, Ivanplats celebrated the first blast at Platreef's 950-metre level, marking the commencement of lateral mine development, with first production anticipated in the third quarter of 2024.

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

Ivanhoe Mines is a leading Canadian mining company developing and expanding its four principal mining and exploration projects in Southern Africa: the Kamoa-Kakula copper mining complex in the Democratic Republic of Congo (DRC) that began commercial operations in July 2021; the Platreef palladium, rhodium, nickel, platinum, copper and gold discovery in South Africa; the historic Kipushi zinc-copper-lead-germanium mine in the DRC; and the expansive exploration program for new copper discoveries on Ivanhoe's Western Foreland exploration licences, near Kamoa-Kakula.


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