Dual-listed Ivanhoe Mines’ South African subsidiary, Ivanplats, has successfully completed the sinking of Shaft 1 at its palladium, platinum, nickel, copper, gold and rhodium Platreef mining licence to a final depth of 996 m below surface.
The Platreef project, which contains the thick, high-grade, flat-lying underground Flatreef deposit, is a tier one discovery.
Underground mine development work will now focus on the construction of the 966 m level station at the bottom of the shaft, with final completion expected by the end of July, well ahead of the contractual schedule.
The shaft can then be reconfigured and equipped for rock, personnel and material hoisting.
The new auxiliary winder of the 7.25-m-diameter Shaft 1, which is scheduled to be delivered to Platreef later this year, will be used to assist in equipping the shaft and thereafter for logistics, shaft examination and auxiliary functions.
Ivanhoe co-chairperson Robert Friedland says that, with the sinking of Shaft 1 complete, the company is now exploring near-term development pathways at Platreef that will allow Ivanplats to expedite production at the next mine on the northern limb of South Africa's Bushveld Igneous Complex.