Ivanhoe Mines files NI 43-101 technical report for the tier-one Platreef platinum, palladium, rhodium, nickel, gold and copper mine in South Africa
March 31, 2025
Ivanhoe Mines files NI 43-101 technical report
for the tier-one Platreef platinum, palladium, rhodium, nickel,
gold and copper mine in South Africa
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Platreef, one of the world’s largest undeveloped precious metals
projects, to be lowest cost platinum, palladium, rhodium, and
gold producer; with significant nickel and copper
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Phase 1 production commencing Q4 this year, with Phase 2
expansion accelerated to 2027
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4.1 Mtpa Feasibility Study (Phase 1 & 2) yields after-tax NPV8% of
$1.4 billion and IRR of 20%, producing over 450,000 ounces
platinum, palladium, rhodium and gold per annum
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10.7 Mtpa PEA (Phase 1, 2 & 3) yields an after-tax NPV8% of $3.2
billion and 25% IRR, scaling up annualized production to over 1.0
million ounces of platinum, palladium, rhodium, and gold, plus
approx. 25,000 tonnes of nickel and 15,000 tonnes of copper
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Platreef’s vast, open-ended deposit contains 42 million ounces of
precious metals in Indicated Resources and 53 million ounces in
Inferred Mineral Resources at 2 g/t cut-off
JOHANNESBURG, SOUTH AFRICA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF)
announced today that, following the announcement made on February 18, 2025,
the company has filed the National Instrument 43-101 (NI 43-101) technical report
covering the Platreef Integrated Development Plan 2025.
The Platreef Integrated Development Plan 2025 includes two independent
technical studies covering the three-phase expansion of the tier-one Platreef
platinum, palladium, rhodium, nickel, gold, and copper mine in South Africa.
The two completed independent studies consist of an updated Feasibility Study
on the Phase 2 expansion to 4.1 Mtpa of processing capacity (4.1 Mtpa FS), and a
2
Preliminary Economic Assessment covering a new Phase 3 expansion to 10.7
Mtpa of processing capacity (10.7 Mtpa PEA).
The Platreef 2025 IDP technical report was prepared by OreWin Pty Ltd of
Adelaide, Australia; The MSA Group (Pty) Ltd of Johannesburg, South Africa;
SRK Consulting (South Africa) (Pty) Ltd of Cape Town, South Africa; DRA
Projects (Pty) Ltd of Johannesburg, South Africa; and, WSP Global Inc. of
Montreal, Canada.
The independent Qualified Persons responsible for preparing the 4.1 Mtpa FS
and 10.7 Mtpa PEA, on which the Platreef 2025 IDP technical report was based
are; Bernard Peters (OreWin Pty Ltd), Jeremy Witley (The MSA Group (Pty) Ltd),
William Joughin (SRK Consulting (South Africa) (Pty) Ltd), Curtis Smith (OreWin
Pty Ltd), Riaan Thysse (WSP Global Inc.), and Ryan Males and Louise Lintvelt
(DRA Projects (Pty) Ltd).
Ivanhoe Mines holds a 64% interest in the Platreef mine through its subsidiary,
Ivanplats, and is directing all mine development work. The South African
beneficiaries of a broad-based, black economic empowerment structure have a
combined 26% stake, with the remaining 10% owned by a consortium of
Japanese shareholders including ITOCHU Corporation; Japan Organization for
Metals and Energy Security; and JGC Holdings Corporation.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three
principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper
Complex in the DRC, the ramp-up of the ultra-high-grade Kipushi zinc-copper-
germanium-silver mine, also in the DRC; and the phased development of the tier-
one Platreef palladium-nickel-platinum-rhodium-copper-gold project in South
Africa.
Ivanhoe Mines also is exploring its highly prospective, 60-100% owned
exploration licences in the Western Forelands, covering an area over 5 times
larger than the adjacent Kamoa-Kakula Copper Complex. Ivanhoe is exploring for
new sedimentary copper discoveries, as well as expanding and further defining
its high-grade Makoko, Kiala, and Kitoko copper discoveries as the company’s
next major development projects.
Information contact
Investors
Vancouver: Matthew Keevil +1.604.558.1034
London: Tommy Horton +44 7866 913 207