Ivanhoe Mines Provides Comprehensive Update on Platreef – World’s Largest Precious Metals Mine Under Development

Ivanhoe Mines Ltd. has released a detailed update on the development progress of the Platreef Mine, the world’s largest precious metals project, located in Limpopo Province, South Africa. The company reports that the Phase 1 concentrator is progressing according to plan and has already produced its first batch of platinum‑, palladium‑, nickel‑, rhodium‑, gold‑ and copper‑rich concentrate, with the first sale completed to Northam Platinum Ltd. in late Q4 2025. Ramp‑up continues, with expectations that the concentrator will reach 80% of its nameplate capacity by mid‑2026. Significant infrastructure development remains on track. Shaft #3’s completion is scheduled for April 2026 and will boost hoisting capacity five‑fold to about 5 million tonnes per annum, supporting both Phase 1 and Phase 2 expansion work. Phase 2 development is advancing, targeting Q4 2027 completion, and is expected to lift annualized production to around 450,000 ounces of platinum, palladium, rhodium and gold. Financial arrangements for the Phase 2 expansion are progressing, with underwriting engagements in place for a US$700 million senior project finance facility. Platreef’s robust metals basket price — exceeding US$2,500 per ounce for key precious metals — along with strong by‑product credits from copper and nickel, underpins the project’s economic strength. Longer‑term plans envision further expansion (Phase 3) that could double production yet again. The unique thick and flat‑lying Flatreef orebody, containing tens of millions of ounces of precious metals and significant base metals, supports multi‑generational production and positions Platreef among the lowest‑cost producers globally. #IvanhoeMines #PlatreefProject #PreciousMetals #MiningDevelopment #SlimScan #GrowthStocks #CANSLIM