Name and Location
Platreef platinum group metals/nickel/copper/gold project, South Africa.

Client
Ivanhoe Mines.

Project Description
The project involves the sinking of a bulk-sample shaft to access the underground Flatreef platinum/palladium/nickel/copper/gold/rhodium discovery at Ivanhoe’s Platreef project, on the northern limb of the Bushveld Igneous Complex, in Limpopo.

The 7.25-m-diameter vertical shaft (Shaft 1) will extend 800 m below the surface and facilitate the collection of a mineralised bulk sample in the second half of 2015 to complete the company’s development assessment of the Flatreef.

Ivanhoe is working with a Japanese consortium – comprising Itochu Corporation, Japan Oil, Gas & Metals Corporation and JGC Corporation – on an integrated Flatreef development plan, based on an exclusively underground mining operation of up to 12-million tonnes a year using multiple shafts. The study is expected to be completed late this year or early next year.

Value
Shaft 1 is expected to cost R818-million.

Duration
Contractor mobilisation and site preparation for the shaft will begin in the fourth quarter of this year.

Latest Developments
South Africa-based Aveng Mining is the shaft-sinking contractor for Shaft 1 and has been working on shaft engineering and design since June.

Key Contracts and Suppliers
Aveng Mining (sinking contractor).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Ivanhoe Mines, Jeremy Michaels, tel +27 11 088 4348 or email jeremy.michaels@ivanplats.com.
Aveng Mining , tel +27 11 821 1800.