Ivanplats, the South African subsidiary of Ivanhoe Mining, has plans to fast-track the Platreef PGE mine into production in 2024, with plans to update the definitive feasibility study by early next year.
The mine, which also has mineralisation of nickel, copper, and gold, will use the existing Shaft 1 and a new concentrator to be built onsite which can process up to 770,000 tonnes per annum. Ivanplats will target high-grade areas near to the shaft to minimise initial capital costs.
Ivanplats has built a station at the 996 meter level at the bottom of Shaft 1, which was completed in July. Other development stations have been completed on the 750-, 850-, and 950-meter levels, and will provide underground access to high-grade ores.
Ivanplats is also sinking Shaft 2, alongside development of Shaft 1.
Two additional 2.2 million tonne-per-annum concentrator modules will also be constructed, which will bring total mine production to 5.2 Mtpa.
The company has completed construction of the auxiliary winder foundations, and the auxiliary winder has been installed and commissioned.
Shaft 1 changeover construction is on schedule for rock hoisting to begin in early 2022. The winder used to sink Shaft 1 has been converted to be the main equipping transporter during the changeover of the shaft. It will also be the permanent rock, personnel, and material winder after this phase.
Once the shaft equipping, underground stations, and ore and waste passes are completed early next year, Ivanplats will begin work on underground mine development.
Ivanplats has placed orders for the radial stacker, while the complete waste conveyor load-out system will be operational by early next year.
Ivanplats has also ordered battery electric-powered jumbo face drill rigs and load haul dump vehicles from Epiroc, which will be delivered in early 2022.
For water supplies, Ivanplats has agreed to financially assist the local municipal for up to US$17 million to complete the Masodi water treatment plant. The subsidiary will pay a reduced rate of 5 South African rand per thousand litres of treated wastewater for the first 10 million litres per day.
In June, Ivanplats signed an agreement with the Lebalelo Water Use Association for an additional 10 million litres per day, from the Olifants River Water Resources Development Project. The subsidiary has also agreed to participate in a feasibility study for the venture, with an aim to secure long-term water supplies for Platreef.
Ivanplats has spent US$32.3 million in 2021 on developing Platreef, compared to US$28.7 million in 2020.
