Business
Ivanhoe Mines Announces Exceptional Results of Independent 2022 Feasibility Study for Tier-one Platreef Palladium, Rhodium, Nickel, Platinum, Copper and Gold Project in South Africa
Platreef ranks as world's largest precious metals deposit under development Phase 1 mine i...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Ivanhoe Mines Announces Exceptional Results of Independent 2022 Feasibility Study for Tier-one Platreef Palladium, Rhodium, Nickel, Platinum, Copper and Gold Project in South AfricaPlatreef ranks as world's largest precious metals deposit under developmentPhase 1 mine in construction, advancing towards first production in Q3 20242022 Feasibility Study yields an after-tax NPV8% of US$1.7 billion and IRR of 18.5% at long-term consensus metal pricesAfter-tax NPV8% of US$4.1 billion and IRR of 29.3% at current spot metal pricesShaft 2 accelerated to 2027, advancing Phase 2 expansion with annual forecast production of greater than 590,000 ounces of palladium, platinum, rhodium, gold and more than 40 million pounds of nickel and copper2022 Feasibility Study confirms Platreef's potential to be the industry's largest and lowest-cost primary PGM producerFort Lauderdale, Florida--(Newsfile Corp. - February 28, 2022) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Co-Chair Robert Friedland announced today at the 31st BMO Global Metals & Mining Conference that the company's South African subsidiary, Ivanplats, and its partners, welcome the outstanding positive findings of an independent Platreef 2022 Feasibility Study for the tier-one Platreef palladium, rhodium, nickel, platinum, copper and gold project in South Africa. The 2022 Feasibility Study provides the blueprint for the ongoing development of Platreef and builds on the excellent results of the preliminary economic assessment (PEA) for a phased-development scenario to expedite production, announced in November 2020, alongside the 2020 Feasibility Study. The Platreef 2022 Feasibility Study is based on a steady state production rate of 5.2 million tonnes per annum (Mtpa), as well as an accelerated ramp up to steady state through the earlier development of Shaft 2. The 2022 Feasibility Study is based on the detailed design and engineering scenario first presented in the 2020 PEA, confirming the viability of a new phased development pathway to fast-track Platreef into production by Q3 2024. The Platreef 2022 Feasibility Study first phase of production includes an initial 700,000 tonnes per annum (700 ktpa) underground mine and 770-ktpa-capacity concentrator, targeting high-grade mining areas close to the project's recently completed Shaft 1 (Figure 1).Platreef's Phase 2, 5.2-Mtpa steady st...