“Phase 1 mine is only the beginning of a multi-stage, multi-generational mining complex underpinned by an enormous, high-grade resource and vast exploration upside,” the company’s president, Marna Cloete, told attendants at African Mining Indaba Conference

Platreef’s initial production shaft is expected to churn out 700,000 tonnes of ore a year. The company envisions that future expansions to 12 million tonnes per annum and beyond would position Platreef among the world’s largest and lowest-cost nickel and PGM mines

The asset is slated to produce more than 24,000 tonnes of nickel and 1.1 million ounces of palladium, rhodium, platinum, and gold per year, Ivanhoe said

Countdown to 2024

“Platreef is well on track for historic first PGM and base metal production by the third quarter of 2024,” executive co-chair and founder Robert Friedland said in a statement. “This achievement will only mark our first milestone. We plan to expand this tier-one operation into one of the largest and lowest-cost, integrated PGM operations on the planet,” he noted

Ivanhoe indirectly owns 64% of Platreef through its subsidiary, Ivanplats, and is directing all mine development work.  The operation will trial emissions-free machines during its initial development phase