Ivanhoe Mines releases key updates on Platreef

Published: Jan 13, 2026 18:53

Save

Ivanhoe Mines announces pivotal updates for Platreef, the world’s largest precious metals mine under development. Phase 1 concentrator successfully commenced production in November 2025 with the first concentrate sale completed. The critical Shaft #3 is on track for commissioning in April 2026, which will increase hoisting capacity five-fold to 5.0 Mtpa, facilitating the Phase 2 expansion. A $700 million senior project finance facility for Phase 2 has been signed, targeting production by Q4 2027. Driven by a surge in platinum and palladium prices (up 96% and 67% respectively vs. 2025 forecasts), the project’s Phase 3 NPV has escalated to over $5.0 billion. Utilizing its unique 26-meter thick orebody, Platreef is set to be the world's lowest-cost PGM producer with Phase 2 cash costs estimated at just $599/oz.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Platinum Prices Remain in the Doldrums, Spot Market Trading Stays Sluggish and Unchanged [SMM Daily Review]

11 hours ago

15 hours ago

Gold price may have found its floor as liquidation gives way to consolidation – Saxo Bank

15 hours ago

Gold Price Forecast for 2026: Why the Precious Metal Holds Huge Potential Despite Headwinds

15 hours ago