Platreef Mine

Underground platinum-palladium-rhodium-gold-nickel-copper mine on the northern limb of the Bushveld Complex, 11 km from Mokopane and 280 km northeast of Johannesburg. Targets the Flatreef orebody (UMT-TCU, with adjacent UMT-BIK and UMT-FW deposits) across the contiguous Turfspruit (241 KR) and Macalacaskop (243 KR) farms totaling 7,842 ha. Phased development per Platreef 2025 IDP: 0.77 Mtpa Phase 1 (first concentrate November 2025) ramping with Shaft #1 + Shaft #3 hoisting to 5.0 Mtpa; Phase 2 4.1 Mtpa from Q4 2027 via a new 3.3 Mtpa concentrator module; Phase 3 PEA expansion to 10.7 Mtpa from 2030/2032 with two additional 3.3 Mtpa modules. Mining via mechanized long-hole stoping and drift-and-fill with cemented backfill. Conventional flotation circuit produces a single high-grade 85 g/t 3PE+Au concentrate. Dry-stack tailings under GISTM. Eskom 100 MW premium supply + 5 MW on-site solar; 10 Ml/day Masodi wastewater offtake. Owned 64% Ivanhoe via Ivanplats, 26% BEE structure, 10% Japanese consortium (ITOCHU/JOGMEC/JGC).