STRONG PGM PRICES CONTINUE TO PROPEL PLATREEF’S ‘METALS-PRICE BASKET’HIGHER
MOKOPANE, SOUTH AFRICA – Ivanhoe Mines’ Co-Chairmen Robert Friedland and Yufeng “Miles” Sun announced today，revenue per tonne of ore at the Platreef Project near all-time highs. Significant increases in the price of palladium, rhodium, gold and nickel over the last three years has resulted in the weighted price of the ‘basket’ of metals contained in the ore at the Platreef palladium-platinum-rhodium-nickel-copper-gold project to rise to levels that are significantly higher than when the 2017 DFS was completed.
Platreef’s current Indicated Mineral Resources are 346 million tonnes grading 3.77 grams per tonne (g/t) 3PE+gold, with estimated 26.8 million ounces of palladium, 25.6 million ounces of platinum, 4.5 million ounces of gold, and 1.8 million ounces of rhodium.
Current metal prices contained in the Platreef: palladium $2160/oz., platinum $910/oz., gold $1867/oz., rhodium $8,900/oz., nickel $5.96/lb. and copper $2.96/lb.
Revenue per tonne of ore at the Platreef Project since 2016 (shown in US dollars)