Platreef makes progress on Ivanhoe
The Platreef platinum-group metals (PGM) project of Ivanhoe Mine 13km outside Mokopane has reached 500m depth below the surface during construction of the first shaft.
LIMPOPO – Robert Friedland, founder and executive chairperson of Ivanhoe said the progress of the first shaft is on track and is expected to reach the Flatreef mineralisation at a depth of about 783m in the third quarter of next year.
The first shaft station was completed in September at a depth of 450m and will be used as an intermediate location for water pumping and shaft-cable termination.”
According to Friedland work to sink shaft 1 continues to advance at a rate of 40 m to 50 m a month. Friedland said: “This shaft will be used for initial access to the Flatreef deposit and early underground development.”
According to Friedland early-works surface construction for shaft 2 has started in May and works construction is expected to be completed in the third quarter of next year. “Shaft 2 will have an internal diameter of 10 m and the capacity to hoist six-million tonnes a year. The continued development of shafts 1 and 2 will provide access to the Flatreef deposit and help to ensure that the project is able to meet the scheduled, first phase start-up of the underground mine and concentrator will be in 2022.”
The first phase of the project will entail a four million tonne a year operation, with possible expansions to eight-million and 12-million tonnes in two further stages. Friedland said: “A definitive feasibility study has estimated a pre-production capital requirement of about $1.5-billion for the first stage, which will produce about 21 million pounds a year of nickel and 13-million pounds a year of copper.”
Ivanhoe holds 64% indirect interest in Platreef project through its subsidiary Ivanplats and has during this year, appointed two mine-financing institutions and three financial institutions to arrange the $1-billion in project financing for the development of Platreef.
About 40% of Platreef’s shaft-sinking team is comprised of employees from local communities who had no previous mining experience. Friedland said: “All new employees receive intensive, on-site training for underground mining and complete a workplace-safety induction program. Our team is dedicated to building a state-of-the-art mine that will produce metals that are essential to our urbanising planet.”
redaksie.bosvelder@nmgroup.co.za
