[miningmx.com] – IVANHOE Mines, the platinum and base metals company of which mining magnate, Robert Friedland, is president, has been awarded a mining right by the South African government for a proposed platinum group metals mine.
“The mining right, when executed, will be for an initial period of up to 30 years and will be renewable for an unlimited number of consecutive periods,’ the company said in a statement on June 2.
Ivanhoe plans to develop the mine in three phases, with the first two taking production to at least 785,000 ounces of platinum, palladium, rhodium and gold a year, said Bloomberg News.
The asset is alongside Anglo American Platinums Mogalakwena, the biggest and most profitable mine of the world’s largest producer, the newswire said.
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