Canadian Mining Journal

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PLATINUM GROUP: Ivanhoe seeks additional financing for Platreef


SOUTH AFRICA – Ivanhoe Mines of Vancouver has selected three mine financing institutions as lead arrangers to attract financing for the ongoing development of the Platreef platinum group metals-nickel-copper-gold project in Limpopo.

The shaft sinking team at the Platreef PGM project. The shaft will eventually reach 980 metres below surface.

Export Development Bank, Nedbank Limited and Societe Generale Corporate and Investment Banking will do their best to find investors willing to supply approximately US$450 million toward a total of US$1 billion debt financing that will carry the project through its first phase of production, a 4.0-million t/y mine.

The Platreef phase one definitive feasibility study is due before the end of June 2017. It is being prepared by DRA Global with inputs from Stantec Consulting, Murray and Roberts Cementation, SRK Consulting, Golder Associates, and Digby Wells Environmental.

The 2016 resource report for Platreef is available at www.IvanhoeMines.com.