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Ivanhoe's Mining Crews Have Entered the Giant Flatreef Platinum-Palladium-Rhodium-Nickel-Gold-Copper Orebody After 30 Years of Efforts
Platreef Mine is destined to become the world's leading polymetallic mining complex Flatreef ...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Ivanhoe's Mining Crews Have Entered the Giant Flatreef Platinum-Palladium-Rhodium-Nickel-Gold-Copper Orebody After 30 Years of EffortsPlatreef Mine is destined to become the world's leading polymetallic mining complex Flatreef discovery contains 59 million ounces of precious metals in Indicated Resources and 94 million ounces in Inferred Mineral Resources at 1 g/t cut-offMokopane, South Africa--(Newsfile Corp. - May 8, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President and Chief Executive Officer Marna Cloete announced today that mining crews have driven underground development into the high-grade platinum, palladium, rhodium, nickel, gold, and copper orebody for the first time, as the mine rapidly advances to commercial production later this year. The significant milestone comes over 30 years since Ivanplats, the company's subsidiary, acquired the first exploration licence and 15 years since the discovery of the 26-metre thick, flat-lying Flatreef orebody was announced. Today's milestone also comes nine years since the initiation of the sinking of Shaft #1. After completing the sinking of Shaft #1 to a depth of 996 metres in 2021, Ivanhoe has completed 5.5 kilometres (over 3.4 miles) of tunnels on three levels; the 750-metre level, 850-metre level, and 950-metre level. Ivanplats’ mining crews entered the Flatreef orebody on the 850-metre level, with the first blast of high-grade ore on May 7, 2025. Underground development on the 750-metre and 950-metre levels will also enter the Flatreef orebody in the coming weeks. Ore from the ongoing underground development will be stored on surface ahead of the first feed of ore into the Phase 1 concentrator in the fourth quarter of this year. Construction of Africa's largest hoisting shaft, Shaft #2, is advancing well. Raiseboring to a depth of 950 metres and an initial diameter of 3.1 metres was completed at the end of the first quarter. Shaft #2's expansion out to a final diameter of 10 metres will commence in early 2026. In the meantime, construction of the Shaft #2's concrete and steel headframe is advancing on schedule. The completion of Shaft #2 will increase the total hoisting capacity from the Platreef Mine to over 12 million tonnes per annum (Mtpa).Watch a new video showcasing the Platreef Mine's momentous occasion: htt...