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.
[caption id="attachment_1003718161" align="alignright" width="300"] 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.