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Production fast-tracked during Phase 1 of Ivanhoe’s Platreef development

28th November 2016

By: Anine Kilian

Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – The main sinking phase of Africa-focused mining developer Ivanhoe Mines’ Limpopo-based Platreef development is expected to reach 980 m below surface in 2018, the company noted during a project update on Monday.

Executive VP of operations Mark Farren added that underground access to the deposit would be used to fast-track production during the project’s first phase.

“Design has been completed for shaft two, which is the main production shaft, and will have a hoisting capacity of 6-million tons a year,” he said, adding that a sinking rate of 45 m a month is expected during the main phase of operation.

According to Farren, the sinking contract includes the development of two main stations at depths of 450 m and 750 m below surface.

Shaft one, which will provide early-development access into the deposit to fast-track production during the first phase of the project, is expected to reach the Platreef deposit at a depth of 777 m below surface during the third quarter of 2017.

“The selected mining areas proposed in the current Platreef project prefeasibility study (PFS) mine plan occur at depths ranging from 700 m to 1 200 m below the surface. Four vertical shafts are expected to provide the main access to the Platreef deposit and to ventilation,” noted Farren.

He added that indicated mineral resources at Platreef now contain an estimated 42-million ounces of platinum-group metals (PGMs) plus gold – a gain of 45% – with an additional 52.8-million ounces in inferred resources, at the base case cutoff grade of 2 g/t.

At a cutoff grade of 1 g/t, indicated mineral resources at the project now contain an estimated 58.8-million ounces of PGMs plus gold, and an additional 94.3-million ounces in inferred resources.

“We have made good progress in advancing the feasibility study for the first phase, which is expected to be completed in the first half of 2017,” Farren said.

The flat reef mine will be developed in phases to support future expansions. This is expected to be followed by a potential production rate of eight-million tons a year, eventually reaching 12-million tons a year.

“This will establish Platreef as one of the largest platinum metals mines in the world.”

KIPUSHI
Meanwhile, Farren noted that “excellent progress” had been made in upgrading and modernising the Kipushi mine shafts and underground infrastructure.

“We want to prepare the mine for the restart of commercial production as soon as possible,” he said.
Farren explained that the current mine redevelopment plan preliminary economic assessment (PEA) includes a two-year construction period, with a relatively quick ramp-up to a projected steady-state production of 530 000 t of zinc concentrate a year.

A PFS is under way to refine the findings of the PEA and to optimise the mine’s redevelopment schedule, life-of-mine operating costs and initial capital costs required to bring the mine back into production.

Ivanhoe expects to complete the PFS in the second quarter of 2017.

Kipushi mine, in the Democratic Republic of Congo (DRC), has upgraded the operating shafts, winders and underground infrastructure at the cascade section of the mine, which are expected to serve as alternate personnel and material shafts – as well as a second egress route from the mine.

The main production shaft for Kipushi, Shaft 5, is in the process of being upgraded and recommissioned.

The rock-hoisting winder, which will have a potential yearly hoisting capacity of 1.8-million tonnes, is being upgraded and is expected to be fully operational in late 2017.

“The mine has the potential to be one of the world’s largest, highest-grade and lowest-cost zinc producers,” he noted.

KAMOA-KAKULA
Also speaking on Monday, Ivanhoe CEO Lars-Erik Johansson noted that the company had transferred an additional 15% of its DRC-based Kamoa-Kakula copper project to the DRC government.

“DRC now holds 20% of the project, with the recent stake bought for a nominal cash payment and a few pledges,” he said. 

Ivanhoe and partner Zijin Mining Group each hold an indirect 39.6% interest in the project. 

According to Johansson, the agreement paves the way to fulfil Kamoa-Kakula’s promise of decades of substantial, long-lasting economic and social benefits for the Congolese people and the strengthening of the national government’s capacity to support the development of its international trade.

Edited by Samantha Herbst
Creamer Media Deputy Editor

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