The Platreef Project includes the underground Flatreef Deposit of thick, platinum-group elements, nickel, copper and gold mineralization in the Northern Limb of the Bushveld Complex, just northeast of Johannesburg.
The Platreef Project, in South Africa’s Limpopo province, is 64%-owned by Ivanhoe and 10%-owned by a Japanese consortium of Itochu Corporation; ITC Platinum, an Itochu affiliate; Japan Oil, Gas and Metals National Corporation; and Japan Gas Corporation.The remaining 26% ownership interest is held by Ivanhoe’s broad-based, black economic empowerment (B-BBEE) partners.
In January, 2015, Ivanhoe Mines welcomed the positive findings of an independent, pre-feasibility study of the planned initial four million tonnes per annum (Mtpa) mine and concentrator in the first phase of development of the company’s major Platreef Project in the heart of South Africa’s Bushveld Complex, the world’s premier platinum producing region.
The pre-feasibility study (PFS) covers the first phase of development that would include construction of a state-of-the-art underground mine, concentrator and other associated infrastructure to support initial concentrate production by 2019. As Phase 1 is being developed and commissioned, there would be opportunities to refine the timing and scope of subsequent phases of expanded production.
The Flatreef Deposit, with a strike length of six kilometres, predominantly lies within a flat to gently dipping portion of the Platreef mineralized belt at relatively shallow depths of approximately 700 to 1,100 metres below surface. The Flatreef Deposit is characterized by its very large vertical thicknesses of high-grade mineralization and the platinum-to-palladium ratio of approximately 1:1, which is significantly higher than other PGMs discoveries on the Northern Limb of the Bushveld.
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