Ivanhoe Mines Releases PEA for Platreef Project

Ivanhoe Mines Ltd. (TSX:IVN) announced yesterday that it has received a positive preliminary economic assessment( PEA) for its Platreef project, which is located in South Africa’s Bushveld Complex.

It estimates annual production of 785,000 ounces of platinum, palladium, rhodium and gold in a base case scenario of 8 million tonnes per year.

Other highlights include:

• Development of a large, mechanized, underground mine is planned through a phased approach.
• Three run-of-mine production scenarios were examined – 4 million tonnes per year (Mtpa); a base case of 8 Mtpa; and 12 Mtpa.
• An initial 4 Mtpa scenario would establish an operating platform.
• Options available to accelerate expansions to the base-case 8 Mtpa and also the 12 Mtpa scenarios, as the market dictates.
• Opportunities exist for additional phases of development beyond 12 Mtpa, subject to further study.

Click here to read the full Ivanhoe Mines Ltd. (TSX:IVN) press release.