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Ivanhoe Mines Announces Powerful Results of the Updated Feasibility Study (FS) for the World-Scale Platreef Palladium, Platinum, Rhodium, Nickel, Copper and Gold Project in South Africa
FS evaluates a 4.4-million-tonne-per-annum (Mtpa) underground mine with annual production of ...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Ivanhoe Mines Announces Powerful Results of the Updated Feasibility Study (FS) for the World-Scale Platreef Palladium, Platinum, Rhodium, Nickel, Copper and Gold Project in South AfricaFS evaluates a 4.4-million-tonne-per-annum (Mtpa) underground mine with annual production of more than 500,000 ounces of palladium, platinum, rhodium and gold; plus more than 35 million pounds of nickel and copper, becoming a world-scale producer of critical \"green metals\"Weighted price of the 'basket' of the four precious metals contained in Platreef's ore more than $2,100 an ounceFS yields an after-tax NPV8% of US$1.8 billion and IRR of 20% at long-term consensus metal prices, and an after-tax NPV8% of US$3.7 billion and IRR of 28% at spot metal prices; re-affirming Platreef's potential to be the world's lowest-cost primary producer of platinum-group metals, with a cash cost of US$442 per ounce of palladium, platinum, rhodium and gold, net of by-products and including sustaining capitalIvanhoe also announces a preliminary economic assessment (PEA) for the phased development plan; an alternate scenario to expedite production, with much lower initial capital, using Shaft 1 for the mine's initial five years of production, followed by an expansion to 5.2 Mtpa once Shaft 2 is completedWith an initial capital cost of US$390 million, the PEA yields after-tax NPV8% of US$1.6 billion and IRR of 20% at long-term consensus metal prices, and an after-tax NPV8% of US$3.3 billion and IRR of 29% at spot metal pricesPEA envisages a potential throughput rate of 5.2 Mtpa, with annual production of more than 600,000 ounces of palladium, platinum, rhodium and gold, plus over 40 million pounds of nickel and copperDetailed engineering studies are underway on the initial 0.7 Mtpa mine and concentrator, in parallel with the transition of Shaft 1 to a production shaftFS and PEA both establish an operating platform to underpin future expansions, leveraging Platreef's immense resource baseSignificant interest from a number of finance providers to fund development, with advanced discussions underwayMokopane, South Africa--(Newsfile Corp. - November 30, 2020) - Ivanhoe Mines' (TSX: IVN) (OTCQX: IVPAF) Co-Chairs Robert Friedland and Yufeng \"Miles\" Sun announced today that the company's South African subsidiary, Ivanplats, and its partners welcome the outstanding positive...