DFS Supports Development of Ivanhoe’s Platreef Project
Ivanhoe Mines has released positive results from an independent definitive feasibility study (DFS) for the planned first phase of its Platreef underground platinum group metals (PGMs), gold, nickel, and copper mine and concentrator in South Africa. First-phase development is based on plant throughput of 4 million metric tons per year (mt/y), producing 476,000 ounces per year (oz/y) of platinum, palladium, rhodium and gold (3 PGMs + gold), plus 21 million pounds per year (lb/y) of nickel and 13 million lb/y of copper, in concentrates.
Endeavour Mining Acquires Mali Gold Project, Sells Ghana Gold Mine
In separate transactions, Endeavour Mining has announced agreements to acquire Avnel Gold Mining and its 80% interest in the Kalana gold project in southern Mali, and to sell its 90% stake in the Nzema gold mine in southwest Ghana to BCM International Ltd. Consideration for the Avenel purchase is Endeavour shares valued at approximately $122 million. Consideration to be received by Endeavour for the Nzema sale is cash totaling up to $65 million.