The approval allows the company to mine and process platinum-group metals, nickel, copper, gold, silver, cobalt, iron, vanadium and chrome at its Platreef discovery located near Mokopane on the Northern Limb of the Bushveld Complex.
Valid for an initial period of 30 years, the mining right may be renewed for further periods, each of which may not exceed 30 years.
South African Minister of Mineral Resources Advocate Ngoako Ramatlhodi: "The final regulatory approval of the Platreef project’s mining right is significant not only for the development of the project itself but it also signals the South African Government’s determination to grow our country’s economy.
"The Platreef Project will attract foreign capital, create much needed jobs and contribute significantly to socio-economic development in areas surrounding the project."
The company plans to commence preparation works for construction at the Platreef site.
Ivanhoe Mines’ wholly-owned subsidiary, Ivanplats will partner with DMR, to ensure the Platreef Project’s host communities receive maximum benefits from its social and labor plan as well as the B-BBEE structure.
