Ivanhoe Announces Findings of Prefeasibility Study for Platreef Project

Ivanhoe Mines Ltd. (TSX:IVN) announced the positive findings of an independent prefeasibility study on the planned mine and concentrator for the first phase of development of its Platreef project.

As quoted in the press release:

Ivanhoe Mines plans to develop the Platreef Mine in three phases: an initial annual rate of four Mtpa to establish an operating platform to support future expansions; followed by a doubling of production to eight Mtpa; and then a third expansion phase to a steady-state 12 Mtpa. At a projected production rate of 12 Mtpa, Platreef would be among the largest platinum-group metals mines in the world.

Executive Chairman Robert Friedland stated:

The completion of the pre-feasibility study for the first phase of production is another important milestone in Ivanhoe’s planned transformation of the Platreef discovery into one of the pre-eminent South African platinum-group metals producers. The results demonstrate the robust nature of the project, which was first highlighted in the March 2014 PEA. Now this latest study has confirmed the excellent economics and technical viability of what is expected to be Africa’s lowest-cost producer of platinum-group metals.

Click here for the full Ivanhoe Mines (TSX: IVN) press release