Mining rights for Platreef Project granted

by Ina King (Potgieter)

PlatreefMining rights approval for the development and operation of Ivanhoe Mines’ Platreef Project was granted on 5 November 2014. Ivanhoe Mine, a Canadian-listed exploration and development company, plans a multi-phased mine development on its Platreef discovery, with the licence authorising it to mine and process platinum-group metals, nickel, copper, gold, silver, cobalt, iron, vanadium and chrome.

The Platreef Project, located near Mokopane on the Northern Limb of the Bushveld Complex, Limpopo Province, resumed construction shortly after the announcement by the mine owners and South Africa's Minister of Mineral Resources.

Progress on these developments, as well as key contact details, are regularly updated on the Africa Mining IQ intelligence portal. Companies subscribing to Africa Mining IQ’s e-mail alerts will be among the first to know about new developments, completed expansions and definitive production expectations, when they are announced.

Mining rights for the project had been granted by the Department of Mineral Resources as far back as 30 May 2014. Preliminary economic assessments released in March this year estimated that a base-case operation mining eight million tonnes per year could produce 785 000 ounces of platinum, palladium, rhodium and gold annually. It was projected that this project would become Africa's lowest-cost producer of platinum-group metals. Even so, formal licence activation was subject to the satisfaction of a number of conditions.

These conditions were intended to ensure that the Platreef Project could meaningfully contribute toward the area’s socio-economic development in an environmentally sustainable manner. With the requirements now met, the active mining right was issued for an initial 30 years, renewable for further periods which may not exceed 30 years at a time. This stipulation is in accordance with the terms of section 24 of the Mineral and Petroleum Resources Development Act.

All investment opportunities for this mining project, and many others, are available for viewing on Africa Mining IQ. Africa Mining IQ organises projects in terms grassroots, pre-feasibility, feasibility, bankable, active and operational phases. Mining projects in Limpopo include projects for 36 PGM, 15 coal, 11 industrial, 8 iron ore, 3 diamond, 2 copper and 1 gold. Our Limpopo database also includes listings for chrome, nickel, rare earth minerals, tin and vanadium.

“Final regulatory approval of the Platreef Project's mining right is significant not only for the development of the project itself but it also signals the South African government's determination to grow our country's economy,” commented Minister of Mineral Resources, Advocate Ngoako Ramatlhodi. “The Platreef Project will attract foreign capital, create much needed jobs and contribute significantly to socio-economic development in areas surrounding the project.”

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