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The significant milestone comes over 30 years since Ivanplats, the company’s subsidiary, acquired the first exploration licence and 15 years since the discovery of the 26-metre thick, flat-lying Flatreef orebody was announced.

This milestone also comes nine years since the initiation of the sinking of Shaft #1. After completing the sinking of Shaft #1 to a depth of 996 m in 2021, Ivanhoe has completed 5.5 km of tunnels on three levels; the 750 m level, 850 m level, and 950 m level.

Ivanplats’ mining crews entered the Flatreef orebody on the 850 m level, with the first blast of high-grade ore on May 7, 2025. Underground development on the 750 m and 950 m levels will also enter the Flatreef orebody in the coming weeks.

Watch a new video showcasing the Platreef Mine’s momentous occasion:
 

Ore from the ongoing underground development will be stored on surface ahead of the first feed of ore into the Phase 1 concentrator in the fourth quarter of this year. Construction of Africa’s largest hoisting shaft, Shaft #2, is advancing well. Raise boring to a depth of 950 m and an initial diameter of 3.1 m was completed at the end of the first quarter.

Shaft #2’s expansion out to a final diameter of 10 m will commence in early 2026. In the meantime, construction of the Shaft #2’s concrete and steel headframe is advancing on schedule. The completion of Shaft #2 will increase the total hoisting capacity from the Platreef Mine to over 12 Mtpa.

Laura Nicholson and Marna Cloete, President of Ivanhoe Mines, discuss the reopening of Kipushi mine

Ivanhoe Mines’ Founder and Executive Co-Chairman, Robert Friedland commented: "Having our thrilled mining crews enter the high-grade Flatreef orebody… rich in platinum, palladium, rhodium, nickel, gold, and copper represents the culmination of over 30 years of relentless dedication by thousands of our talented and hardworking people. Their efforts have spanned decades, from the early stages of discovery to meticulous delineation, permitting, engineering and now the construction of this world-class polymetallic mining complex that will benefit humanity for generations.

“Contrary to predictions that the Platreef Mine might not be built, the mine is now a reality. This colossal mine will grow in rapidly phased expansions, positioning the Platreef Mine as one of the lowest-cost, if not the lowest-cost, and largest primary producers of platinum group metals on our planet.

“With a globally significant precious metals endowment exceeding 50 Moz of gold-equivalent, Platreef is the world-leading polymetallic mine in development. The discovery remains open in many directions, with vast additional untapped opportunities despite already having proven an astounding mineral inventory containing 2 Bt of the world’s richest platinum, palladium, rhodium, nickel, copper and gold system.

“This year, we are excited to offer institutional investors and analysts guided tours of the magnificent Platreef Mine. Our guests will witness firsthand the scale, innovation, and electrifying possibilities of what will redefine the polymetallic mining landscape.”

Explore Ivanhoe’s photo gallery showcasing the work taking place at its mining and exploration projects in Southern Africa, including: expanding the high-grade Kamoa-Kakula Copper Complex in the DRC; mine development at the Platreef Project, and ramping up high-grade Kipushi zinc-copper-silver-germanium mine, also on the DRC’s Copperbelt.