Ivanhoe Mines Ltd. Class A · TSX:IVN
Ivanhoe Mines Ltd. Class A — Mines and Money London 2019
89 slides from Ivanhoe Mines Ltd. Class A's conference presentation, Nov 25, 2019
Slide 1: Sustaining our urbanizing planet. New roles for vital 'green metals'
Sustaining our urbanizing planet. New roles for vital ‘green metals’. Imagine: 8 billion of us – in just 4 more years! M i n e s a n d M o n e y L o n d o n | N o ve m b e r, 2 0 1 9 ROBERT FRIEDLAND George Gilchrist Executive Co-Chairman G r o u p M a n a g e r, R e s o u r c e s
Slide 2: Forward-looking statements & Qualified Person
Forward-looking statements & Qualified Person Certain statements in presentation constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including, without limitation, the timing and results of: (i) statements regarding the ongoing d
Slide 3: Platreef and Kamoa-Kakula: leaders' visit
Shinzō Abe Xi Jinping Prime Minister of Japan President of the People's Republic of China PLATREEF KAMOA -KAKULA Source: AFP/JIJI
Slide 4: Visualizing the auto industry's problem
Visualizing the auto industry’s problem Note: Size represents the global market value of the commodity. Source: CleanTeQ
Slide 5: Year-to-date price change (Jan 1 to Nov 22, 2019)
Year-to-date price change (Jan 1 to Nov 22, 2019) Ivanhoe Mines (IVN:TSX) +54.85% Rhodium (Rd spot) +143.90% Palladium (Pd NYM) +45.76% Nickel (Ni LME 3mth) +35.50% Gold (Au spot) +14.02% Platinum (Pt NYM) +12.26% Silver (Ag spot) +9.70% Copper (Cu CMX) +0.51% Zinc (Zn LME) -7.04% Source: Bloomberg
Slide 6: The whole world is watching the Democratic Republic of Congo
Félix Tshisekedi sworn in as the President of DR Congo on January 24 “ The whole world is watching the Democratic Republic of Congo. For our harmonious development, we will pursue a policy of economic cooperation based on investment and improving the image of our country. The strength and unity of a
Slide 7: A culmination of more than 15 years of friendship with CITIC
A culmination of more than 15 years of a long-lasting friendship with CITIC “We are confident that the CITIC Metal Group has the experience, financial resources – and a shared commitment to our objectives – to greatly assist us as we advance our projects to production.” In April 2003, Robert Friedla
Slide 8: September 2018: CITIC Metal strategic equity investment
September 19, 2018: Completion of a major strategic equity investment totalling C$723 million (approximately US$556 million) in Ivanhoe Mines by CITIC Metal to help advance three world-scale mine-development projects in Southern Africa. Ivanhoe Mines’ Executive Co-Chairman Robert Friedland (above, m
Slide 9: CITIC Metal closed second investment of ~US$1 billion
On August 16, CITIC Metal closed its second investment ~US$1 billion at a +35% premium to market. Left to right: Peter Zhou (Vice President, Ivanhoe Mines), Yufeng “Miles” Sun (President, CITIC Metal Group, Co-Chairman, Ivanhoe Mines), Robert Friedland (Executive Co-Chairman, Ivanhoe Mines) and Manf
Slide 10: Proforma top 10 shareholders hold ~73% of Ivanhoe
Proforma top 10 shareholders hold ~73% of Ivanhoe Ownership stake Shareholder in Ivanhoe Mines July 26, 2016 IVN share price up 26.4 Standstill at 26.4% until 2023 5.4% after keynote speech, and keeps 13.88% Standstill at 13.88% until 2026 increasing Robert Friedland 13.20 9% 2% 2% 2% 2% 2% 1%
Slide 11: Urbanization
URBANIZATION: Resources and technologies for one of the greatest social 108-storey-high CITIC Tower (China Zun), and economic transformations Beijing’s tallest building in human history.
Slide 12: 8.5 billion people will call Earth home by 2030
With an estimated 7.6 billion people now, our world is gaining another 82.5 million people every year. 8.5 billion people will call Earth home by 2030. Shanghai’s population tripled to 23 million in only two decades. 1990 2010 Source: United Nations
Slide 13: 4.2 billion people live in cities
Today, 4.2 billion people (55% of the global population) live in cities. By 2050, it will be 6.7 billion people in cities (68% of the global population). Tokyo, currently the world’s largest urban area (pop. 38 million) Source: Oct 2018 United Nations report
Slide 14: Sustainable development depends on managing urban growth
In 2019, air pollution is considered by WHO as the greatest environmental risk to health “ As the world continues to urbanize, sustainable development depends on the successful management of urban growth.” – United Nations World Urbanization Report Jakarta, Indonesia Photo: MenaFN
Slide 15: Humans are vulnerable to air pollutants
Humans are vulnerable to air pollutants seeping into bloodstreams and brains Miniscule airborne particles are less likely to be trapped by hairs and the mucus that line our noses – our body’s natural barrier. AP Sources: US EPA, BBC
Slide 16: Toxic smog clouds future of urbanizing Earth
Toxic smog clouds future of urbanizing Earth Nine out of 10 people worldwide Air pollution kills 7 million people a year. breathe polluted air. – UN World Health Organization, May 2018 – UN World Health Organization, May 2018 Air pollution deadlier than smoking, war Air pollution deaths cost the glo
Slide 17: Studies reveal dangers of prolonged exposure to air pollution
Studies reveal dangers of prolonged exposure to air pollution 2.7 million premature births a year linked to air pollution. Air pollution tied to chronic kidney disease. Heart disease linked to air pollution. Young and old – air pollution Possible Alzheimer’s link cited by UK researchers. affects the
Slide 18: Babies in prams exposed to more pollution than adults
Babies in prams/strollers can be exposed to up to 60% more pollution than adults • Infants in prams/strollers are exposed to dirtier air because they are lower to the ground and closer to vehicle exhaust pipes. • Toxic air puts 17 million babies’ brains and lungs at risk: UNICEF. Photo: Elizabeth Da
Slide 19: Almost every Londoner exposed to toxic air pollution
Almost every Londoner exposed to dangerous levels of toxic air pollution 7.9 million Londoners – nearly 95% of the capital’s population – live in areas that exceed WHO’s limit of damaging PM2.5 particles, an October 2017 report showed. Photo: AP/Alastair Grant
Slide 20: The world's dirtiest air is in India
The world’s dirtiest air is in India Delhi air pollution surged to severe, emergency levels in 2019 • Government’s five-year plan aimed at reducing air pollution in 102 cities by up to 30% from 2017 levels. • March 2019: Delhi cabinet approved 1,000 electric buses to fight air pollution. Photo: Raj
Slide 21: Disruptions happen – It's 1900: Can you spot the car?
Disruptions happen – sometimes quickly. It’s 1900: Can you spot the car? 5th Avenue, New York City April 15, 1900 Source: Tony Seba, U.S. National Archives
Slide 22: Now it's 1913: Can you spot the horse?
This disruption did happen quickly. Now it’s 1913: Can you spot the horse? 5th Avenue, New York City March 23, 1913 Source: Tony Seba, U.S. National Archives
Slide 23: Copper demand for electric cars to rise 900% by 2027
Copper demand for electric cars to rise 900% by 2027 – International Copper Association Copper, a major commodity winner in growing EV market, is at the heart of lithium batteries and induction motors Motor windings contain approx. 40 kg (88 lbs.) of copper. Battery pack contains approx. 37.5 kg (83
Slide 24: All-electric cars use four times more copper
All-electric cars now use four times more copper than conventional gasoline-powered autos. Future, larger electrics could use much more. Sources: BHP via ft.com (2016); Bernstein Research projection (2017)
Slide 25: Electrify America charging network expanding in the U.S.
Super-fast Electrify America electric-car charging network expanding in the U.S. 251 stations installed as of July 2019 235 stations to be installed by end of 2019 Source: Electrify America. Graphic: Curt Merrill, CNN.
Slide 26: EAS RIM !
EAS RIM ! NEARS EES BLS RNASE DV IN ITE TAN 0 NENG OAV RIM !
Slide 27: Solar and wind growth to increase copper demand by 56%
Growth in solar and wind energy projected to increase copper demand by 56% in 2027, over 2018 levels Copper annual capacity forecast (kt) Sources: International Copper Association & Navigant Research
Slide 28: Wind & solar far more copper intensive than conventional generation
Wind & solar energy (among renewables) up to 37 times more copper intensive than conventionally generated electricity – Bernstein Research Renewable sources supplied 18% of all U.S. electricity in first three quarters of 2018 Photo: Electrek
Slide 29: Global wind turbine fleet to consume 5.5 million tonnes of copper
Global wind turbine fleet to consume more than 5.5 million tonnes of copper by 2028 – Wood Mackenzie Wind turbines installed in Denmark are 60 storeys high. One blade is 82 metres (270 feet) long – wider than the total wingspan of an Airbus A380, the world’s largest passenger jet. Larger turbines ge
Slide 30: California moves toward 100% carbon-free electricity by 2045
August 2018: California takes historic step toward 100% carbon-free electricity generation by 2045 • Legislators voted to require Ivanpah solar energy farm, California Mojave Desert that 100% of state’s electricity comes from carbon-free sources. • World’s fifth largest economy to fully commit to re
Slide 31: Not enough copper being discovered to meet future demand
Not enough copper is being discovered to meet future projected demand 000 tonnes 22,000 Supply required to meet demand 20,000 5.7 million 18,000 tonne 16,000 deficit 14,000 Projected mine production by 2030 12,000 Low probability 10,000 8,000 Medium probability 6,000 High probability 4,000 Operating
Slide 32: Escondida: dropping copper grades
Escondida World’s largest copper mine produced 6% of global output in 2016. However, it is facing the same problem as many large copper mines CHILE – dropping grades. In 2007, Escondida’s copper grade was 1.72%. Its remaining copper reserve grade is 0.52%. Source: Visual Capitalist
Slide 33: EVs driving growth in nickel and cobalt demand
Electric vehicles also driving huge growth in nickel and cobalt demand Raw material demand (kt) 1,000 928 • 95% of cobalt production comes 900 as a by-product of copper Nickel Cobalt 800 or nickel production. 700 • Less than 50% of current global 600 495 nickel production is suitable 500 for battery
Slide 34: Global automakers investing $300 billion in electric vehicles
Global automakers investing $300 billion (equivalent to Chile’s GDP) in electric vehicles Large sums planned to develop and procure batteries and EVs over the next five to 10 years; ~45%, or $135 billion, will be spent in China. Volkswagen Daimler General Motors Tesla • $91 billion pledge is • Daiml
Slide 35: New names, big names on EV horizon
New names, big names on EV horizon More than 230 electric-vehicle models will be released by 2021, compared with 179 at the end of 2018. Tesla Model Y Lucid Motors Air Rivian R1T Porsche Taycan Jaguar I-Pace Audi e-tron Source: Bloomberg New Energy Finance
Slide 36: Toyota plans all vehicles emissions-free by 2050
Toyota, world’s #3 sales leader, plans to make all vehicles emissions-free by 2050 • Toyota will spend US$13 billion on new hybrids and electrics, including more than 10 new battery-electric models by the early 2020s. Toyota Prius hybrid • Toyota partnering with China’s BYD Auto (world’s largest EV
Slide 37: Jaguar E-Type Zero electric car
Jaguar E-Type Zero – world’s “most beautiful” electric car – to hit the road in 2020 Photo: Jaguar
Slide 38: Ford to bring 16 EV models to market by 2022
Ford to bring 16 EV models to market by 2022 In 2019, Ford showed off an electric prototype of its most important vehicle – the F-150 pickup truck, towing a one-million-pound (453,592 kg) train over 1,000 feet (304 metres). A hybrid version of the truck will go on sale in 2020. Ford F-150 e-truck
Slide 39: Big Rigs are going all-electric, too
Big Rigs are going all-electric, too Tesla’s fully-electric, semi-autonomous U.S. truck maker Cummins’ new Class 7 Class 8 truck capable of sprinting from electric truck can haul 44,090 pounds 0 to 97 km/hr (0 to 60 miles/hr) in just (20 tonnes) and recharge in an hour. 5 seconds. Production set for
Slide 40: Boeing and Airbus developing electric passenger drones
Dawning of self-flying “air taxis” Boeing and Airbus developing electric, autonomous passenger drones BOEING Boeing PAV (passenger air vehicle) Airbus Vahana • Prototype’s 1-minute first test flight January • Test flight completed: January 2018. 2019, in Virginia, U.S. • Range: 50 km (30 miles). • R
Slide 41: Hydrogen fuel cells
HYDROGEN FUEL CELLS The 2nd disruptor in the electric-vehicle revolution. Hyundai’s second generation Nexo fuel-cell SUV Range: 612 km (380 miles) – L.A. to San Fran Refuelling: 5 minutes
Slide 42: Platinum- and copper-intensive fuel-cell vehicles backed by Japan
Platinum- and copper-intensive fuel-cell electric vehicles being backed by Japan THE 2019 TOYOTA MIRAI In Japanese, Mirai (未来) means ‘the future’.
Slide 43: Fuel-cell electrics developed by German automakers
Fuel-cell electrics also being developed by Germany’s leading automakers Mercedes-Benz’s GLC F-Cell, the world’s first hydrogen fuel-cell electric vehicle combined with plug-in battery power, has started leasing in Germany and will go on sale in the U.S. in 2020. Total range: 480 km (300 miles), inc
Slide 44: Toyota's fuel-cell big rig in California ports
Toyota’s fuel-cell-powered big rig to start operating in California’s ports in the fourth quarter of 2019 Photo: Toyota • Toyota’s Class 8 fuel-cell truck hauls 36-tonne loads over 483 km (300 miles). • Installed on a Kenworth chassis, two fuel-cell stacks from Toyota’s Mirai sedan can produce more
Slide 45: Buses hitching up to fuel-cell revolution
Buses hitching up to fuel-cell revolution London Mayor Sadiq Khan unveiled the upgraded, hydrogen fuel-cell double-decker bus to be in operation next year. (Double-deckers have been a London icon for 170 years) Photo: Cleantechnica • Sales of Toyota fuel-cell buses in Japan started last year. • Flee
Slide 46: Hydrogen fuel cells take to the rails
Hydrogen-powered fuel cells have taken to the rails in Europe and China • World’s first two hydrogen trains began service in Germany in September 2018, replacing diesel trains. Another 14 will be running by 2021. • Range of 1,000 km (620 miles); top speed 140 km/h (87 mph). Photo: Alstom • China str
Slide 47: Average American's lifetime use of resources
Historical average American’s lifetime use of resources BEFORE the New Era of Electrification 1,515 tons of minerals, metals and fuels per person. Current U.S. population: 328 million. 521 lbs. zinc 1.18 million lbs. Source: Mineral Information Institute stone, sand & gravel
Slide 48: Over 20 years in Southern Africa, 3 advanced projects
Over 20 years in Southern Africa. 3 advanced, unique projects. Positioned to realize urbanization’s resource opportunities with minerals to help build a better world.
Slide 49: Kamoa-Kakula: Exploration & mine development
KAMOA-KAKULA Exploration & mine development Democratic Republic of Congo
Slide 50: D.R. Congo ~
~ D.R. Congo ~ OKansanshi ly Osotwezi umwana Ss) Zambia Cu Deposit ° O Town ey) coon Tectonic Domain Boundary Nguba and Kundelungu Group res y. Mufilira S. Mwashya Subgroup Volcanic Rocks Bi Roan Subgroup 7 Pre-Katanga Basement |
Slide 51: Slide 51
Slide 52: Kamoa-Kakula Mineral Resources & Reserves
KAMOA-KAKULA Mineral Resources & Reserves Mineral Reserves & Resources Category Mt Cu % Cu Bnlb Cu Mt Probable (Kakula) 120 5.48 14.5 6.6 Probable (Kamoa) 125 3.81 10.5 4.7 Total Reserves 245 4.63 25.0 11.3 Indicated (Kakula) 628 2.72 37.6 17.1 Indicated (Kamoa) 759 2.57 43.0 19.5 M&I Resources* 1,3
Slide 53: Extent of the initial Kamoa Discovery
KAMOA-KAKULA Extent of the initial Kamoa Discovery Nearly 1,000 drillholes defining the resource area Resource extents: 24km north-south 12km east-west Kansoko box cut and declines
Slide 54: Initial Kakula Deposit contains copper grades greater than 7%
KAMOA-KAKULA Initial Kakula Deposit contains copper grades greater than 7% copper
Slide 55: Bottom-loaded, high-grade copper consistent at higher cut-offs
KAMOA-KAKULA Bottom-loaded, high-grade copper is consistent at higher cut-offs Continuity and consistency of mineralisation provides great flexibility during mining
Slide 56: Extent of Kakula / Kakula West Discovery
KAMOA-KAKULA Extent of Kakula / Kakula West Discovery Kakula West discovery extends known mineralization to >13 km − and remains open.
Slide 57: The effect of persistence in exploration
The effect of persistence in exploration
Slide 58: Kamoa North: new high-grade corridors
KAMOA-KAKULA DD1450 2 newly defined corridors Kamoa North − containing high-grade copper zones two new high-grade corridors trending onto Ivanhoe’s 100%-owned ground
Slide 59: Kamoa North High Grade Area map
KAMOA-KAKUL 8808000 Kamoa North 301000 304000 307000 2 = 310000 High Grade Area r Map showing the controlling f structures and intercepts shown i at a 2% copper cut-off. Kamoaionnen a : T Mining License 1 Pa | L an DMKC_DD1450 za Discovery Hole rt 24m@11.7% 1 | DKMC_DD1200: 1 » I Regional Scale 4.5m
Slide 60: North-south section through Kamoa North Bonanza Zone
KAMOA-KAKULA North-south section view through the Kamoa North Bonanza Zone
Slide 61: Mineralization Profiles
KAMOA-KAKUL Mineralization Profiles Downhole Depth (m) DKMC_DD1450 180m: Copper % 185m. 2 4 6 8 1012 14 16 18 20 22 24 26 28 30 32 4 36 38 40 230m. R4.2 contact, 29.4m @ 10.29% Cu 22.4m @ 13.05% Cu 17.0m @ 15.92% Cu 56 cut-off 2% cut-off 5 cutort Downhole Depth (m) DKMC_DD1571 Copper % 2 4 6 8B 1012
Slide 62: KAMOA-KAKULA
KAMO KUL DKMC_DD1450 Copper % —_—___> 5 10 15 20 2 30 3 40 45 17.0m @ 15.92% Cu Downhole Depth (m) oon nee R4.2 contact. Downhole Depth (m) DKMC_DD1571 Copper % —_—___> 5 10 15 20 2 30 3 40 45 16.5m @ 20.10% Cu } ---------------------- 4.2 contact Downhole Depth (m) DKMC_DD1508 Copper % —_—___> 2 2
Slide 63: KAMOA-KAKULA
KAMOA-KAKULA DKMC_DD1527 Copper % ————_—_——_> 5 10 15 20 2 30 35 40 45 190m 200m 3 220m. 15.5m @ 13.80% Cu Downhole Depth (m) 3 R4.2 contact Downhole Depth (m) DKMC_DD1486 Copper % ————_—_——_> 5 10 15 20 2 30 35 40 45 16.7m @ 15.84% Cu 3 ~ R4.2 contact 8 Downhole Depth (m) 3 220m. 230m— DKMC_DD1497
Slide 64: KAMOA-KAKULA
KAMOA-KAKULA Downhole Depth (m) DKMC_DD1504 Copper % —_—_—— > 5 10 15 20 2 30 35 4 45 20.5m @ 13.69% Cu -+--|----+----L- R4.2 contact Downhole Depth (m) DKMC_DD1520 Copper % 220m. — > 13.5m @ 13.69% Cu 4.2 contact Downhole Depth (m) DKMC_DD1522 Copper % —— 3035 4045 200m 20m: 16.2m @ 13.41% Cu 230m
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Slide 66: Drilling extends Kamoa Far North discovery onto Western Foreland
KAMOA-KAKULA Drilling extends 10-km Kamoa Far North discovery on to Ivanhoe’s 100%-owned Western Foreland exploration licences
Slide 67: Largest high-grade copper deposit in the world
KAMOA-KAKULA Kamoa-Kakula is the largest high-grade copper deposit in the world 45 40 5.9 Measured & Indicated Resource Inferred Resource Contained Copper (Mt) 35 30 25 11.7 20 36.6 15 6.4 10 16.9 4.8 0.0 0.4 5 10.2 0.4 0.1 0.0 0.0 0.3 4.6 1.4 0.9 0.7 0.5 0.3 0.4 0.3 - Source: Wood Mackenzie *Note:
Slide 68: Kakula Mine first stage averages 6.8% copper
KAMOA-KAKULA The Kakula Mine’s first stage will average 6.8% copper over the first 5 years, with mine-site cash costs of US$0.43/lb copper
Slide 69: Phase 1 Kakula: NPV US$5.4 billion, IRR 47%
US$5.4 billion and an Phase 1, 6 Mtpa operation at Kakula, yields an after-tax NPV8% of IRR of 47% over a 25-year mine life, with an initial capital cost of US$1.1 billion
Slide 70: PEA staged expansions: NPV US$10.0 billion, IRR 41%
KAMOA-KAKULA The PEA envisions the staged mine expansions and smelter will be funded from internal cash flows and yields an after-tax NPV8% of US$10.0 billion and an IRR of 41%
Slide 71: Kakula underground development and five-year plan
Kakula’s underground development and production five-year plan Northern decline Southern decline More than five kilometres of development work completed to date
Slide 72: Western Foreland
Western Foreland A drill rig in action on the Makoko exploration area on a portion of Ivanhoe's 100%-owned Western Foreland licences.
Slide 73: Makoko high-grade copper resembles Kamoa-Kakula
WESTERN FORELAND Makoko high-grade copper shows characteristics identical to tier-one Kamoa-Kakula Discoveries
Slide 74: Mwadingusha hydroelectric plant upgrade
DRC ENERGY Mwadingusha hydroelectric plant upgrade Mwadingusha is the first of three hydroelectric power plants in the DRC being upgraded by Ivanhoe, Zijin and SNEL to secure a supply of clean, sustainable electricity for the development of Kamoa-Kakula. The Mwadingusha, Koni and Nzilo 1 plants
Slide 75: Kipushi: Mine development & upgrading for a new era
KIPUSHI Mine development & upgrading for a new era Democratic Republic of Congo
Slide 76: Kipushi: world's highest grade zinc-copper-silver-germanium mine
KIPUSHI Kipushi: world’s highest grade zinc-copper-silver-germanium mine in southeast DRC on the Zambian border
Slide 77: Kipushi pre-feasibility study: NPV US$683 million, IRR 35.3%
KIPUSHI December 13, 2017: Ivanhoe announced a pre-feasibility study for the rebirth of the historic Kipushi zinc-copper-silver-germanium mine After tax NPV8% of $683 million and IRR of 35.3%
Slide 78: World's best drill hole?
KIPUSHI World’s best drill hole? Our geology team holding hands and showing Big Zinc intersection of 44.8% zinc over 340 metres
Slide 79: Big Zinc Mineral Resource outline and fault zone
KIPUSHI Big Zinc Mineral Resource outline and Fault Zone and Fault Zone Splay copper intercepts in Ivanhoe drill holes
Slide 80: Big Zinc: ready to mine
KIPUSHI +35% Big Zinc (circled in red): READY TO MINE…
Slide 81: Top 20 zinc projects by contained zinc
KIPUSHI Top 20 zinc projects by contained zinc Source: Wood Mackenzie. Note: All tonnes and zinc grades of the above-mentioned projects (except for Kipushi) are based on public disclosure and have been compiled by Wood Mackenzie.
Slide 82: Platreef: Discovery & mine development
PLATREEF Discovery & mine development South Africa
Slide 83: Revenue per tonne of ore at Platreef at 3-year high
PLATREEF Revenue per tonne of ore at the Platreef Project now at 3-year high Total Cash Cost (Mine Site + Realization) Source: Bloomberg. Based on historical weekly commodity prices at the end of each week.
Slide 84: Shaft 1 stations to access high-grade Flatreef orebody
PLATREEF 750-metre, 850-metre and 950-metre stations on Shaft 1 will provide access to the high-grade Flatreef orebody
Slide 85: First underground mining intersection of Platreef
PLATREEF September 26, 2018: First underground mining intersection of the Platreef mineralized belt on the Northern Limb of South Africa’s Bushveld Complex The first ore from the underground mine development was delivered to a surface stockpile for metallurgical sampling.
Slide 86: Platreef Shaft 2 box cut
PLATREEF Platreef’s Shaft 2 box cut, with the 11.5-metre shaft ring set-up for the 10-metre internal diameter shaft
Slide 87: Definitive feasibility study for Platreef Project
PLATREEF July 31, 2017: Definitive feasibility study issued for Platreef Project First phase envisages annual throughput rate of four million tonnes of ore per year, producing 476,000 ounces of platinum, palladium, rhodium and gold (3PE+Au), plus 33 million pounds of nickel and copper. Projected
Slide 88: Looming platinum supply cliff for Southern Africa
PLATREEF The looming platinum “supply cliff” for Southern Africa’s existing producing mines (’000 oz.) Southern Africa's projected plunge in platinum production Existing shafts alone will barely maintain current production to 2021. Then, closures of mined-out shafts will help trigger a long prod
Slide 89: Thank You
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