Modern Mining - page 23

platinum
21 06.13
According to Friedland, the MRA represents
the culmination of years of successful explo-
ration and engineering to define high-grade
resources amenable to safe, efficient, large-scale,
mechanised underground mining methods. “We’re
looking forward to working with all our stakeholders
to advance the Plat­reef project to production, to cre-
ate much-needed jobs and to contribute significant-
ly to the socio-economic development of our host
communities, the surrounding Limpopo region and
South Africa as a whole,” he said.
In conjunction with the MRA, and in compliance
with South African ownership requirements under
the Mining Charter, Ivanplats has also announced
that the Platreef ownership structure has been modi-
fied to include a Broad-Based Black Economic Em-
powerment (BBBEE) partner that represents local
communities, women, children and employees.
The BBBEE partner will acquire a 26 % interest in
the Platreef project through a private company incor-
porated in South Africa – BBBEE SPV. Ivanplats will
finance the transaction, to take effect upon Ivanplats’
receipt of the Mining Right, and retain a 49 % minor-
ity share in BBBEE SPV.
Ivanplats has also reported that – following ratifi-
cation of community compensation agreements – the
DMR has rescinded a Section 93 Directive issued in
Q4 2012 that had temporarily suspended exploration
activities, including drilling, at the project.
Drilling is expected to resume shortly. The initial
drilling will focus on providing additional technical
data required to advance studies on the project at the
pre-feasibility level. Ivanplats is also planning addi-
tional exploration drilling targeting potential contigu-
ous, high-grade mineralised zones to supplement the
current indicated resource in Flatreef’s Zone 1 and
also to target additional shallow, high-grade inferred
resources along strike from Zone 1.
The planned exploration drilling programme will
focus on delineating the exploration target that is
believed to represent the southern continuation of
the shallow Flatreef underground deposit. In the
March 2013 Plat­reef Technical Report, AMEC pro-
vided an exploration target tonnage for this area
(Target 1) and suggested it could contain between 31
and 62 million tonnes grading 3,36 to 5,03 g/t 4PE
(platinum, palladium, gold and rhodium), 0,26 % to
0,38 % nickel and 0,13 % to 0,19 % copper over an
area of 2,5 km2.
AMEC also identified a second exploration target
area (Target 2) that surrounds the declared mineral
resources and is estimated to contain an additional
50 to 220 Mt grading 2,9 to 4,1 g/t 4PE, 0,24 % to
Multiple drill rigs in action at the Platreef site north of Mokopane
(photo: Ivanplats).
Significant milestone
for Platreef project
0,32 % nickel and 0,2 % to 0,16 % copper over an
area of 7,6 km2.
The goal of the exploration drilling in targets 1 and
2 is to delineate additional mineral resources that, if
confirmed and supported by positive technical stud-
ies, potentially could result in a second underground
development area at Platreef.
Sinking of an initial exploration shaft in Flatreef’s
Zone 1 is being planned to provide underground ac-
cess to the Flatreef deposit to obtain a bulk sample
for testwork. The Platreef Bulk Sample Application
was lodged with the DMR in Polokwane in Septem-
ber 2012 and is awaiting approval. Ivanplats has ap-
pointed Aveng Mining as the shaft-sinking contractor.
Aveng will proceed with the shaft engineering and de-
sign work, as well as refurbishment of the shaft wind-
er, while the Bulk Sample Application is pending.
Ivanplats appointed DRA Mineral Projects as the
principal pre-feasibility consultant for the project in
March 2013. Study work began in April 2013. Sub-
consultants supporting DRA are Stantec (mining),
Golder Associates (hydrology), SRK (geotechnical),
Geotail (tailings) and Digby Wells & Associates (social
and environmental). The project team is also work-
ing toward finalising a Preliminary Economic Assess-
ment (PEA) expected in Q3 2013.
A range of mechanised options for mining the Fla-
treef deposit from an initial underground develop-
ment area is being examined in connection with the
PEA, including a high-volume underground mining
option. The project team is examining a range of tail-
ings storage options, as well as milling and process
alternatives, although it is expected that industry-
standard froth flotation will be selected as the princi-
pal processing method. 
Ivanplats’ Executive Chairman, Robert Friedland, and CEO, Lars-Eric Johansson, have announced that the
company has filed a Mining Right Application (MRA) with South Africa’s Department of Mineral Resources for
its Plat­reef project. The company describes the project as a “Tier One discovery of platinum-group elements,
nickel, copper and gold, which contains the Flatreef underground deposit, on the Bushveld’s Northern Limb.”
“Our application for a Mining Right is a very significant milestone for the Platreef project,” said Friedland.