South Africa : Ivanhoe Mines secures $700M for Platreef Phase 2 expansion

Ivanhoe Mines secured $700 million to expand its Platreef mine in Limpopo with Société Générale, Absa, and Nedbank. Phase 2 will raise annual output to 450,000 ounces of platinum, palladium, rhodium, and gold by 2027. With record metal prices, the project’s NPV reaches $2.7 billion, underlining Platreef’s strategic importance for South Africa and global markets.