Robert Friedland, the executive co-chairman of Ivanhoe Mines, doubled down on his previous comments about the mineralization adjacent to the company’s Platreef project in South Africa’s Limpopo province.

29 June 2023

Published By Everything ZA Travel

He said that the mineralization could transform the country’s mining sector and that it could be the largest mineral discovery in human history.

Friedland said that the mineralization is located in an area called the Mokopane Feeder, which is a gravity anomaly that is four miles long and three miles wide. He believes that the Mokopane Feeder is the source of the Bushveld Complex, which is a geological formation that is home to the largest known reserves of platinum group metals, chromium, vanadium, gold, and base metals.

The Platreef project is expected to produce platinum and palladium, as well as nickel and gold. Friedland said that Ivanhoe is investing $490 million in the project this year and in 2024. Of that amount, $390 million will be used for phase one of the project and $100 million will be used for a second phase. The company expects the project to be operational in the first quarter of 2024.

Friedland said that he is bullish on the future of mining in South Africa. He pointed out that the country has a wealth of mineral resources and that the mining industry could be a major driver of economic growth. He also said that Ivanhoe is committed to working with the South African government and with local communities to ensure that the benefits of mining are shared by all.