MINERALS   Precious Metals  

Ivanhoe encouraged by rise in palladium prices

Ivanhoe Mines’ (TSX: IVN) co-chairmen Robert Friedland and Yufeng “Miles” Sun issued a communiqué this week stating that recent increases in the price of palladium, nickel, rhodium and gold have resulted in the weighted price of the ‘basket’ of metals contained in the ore at the company’s Platreef project to rise to a new, multi-year high.

“While many investors are focused on gold, palladium has been far and away the best performing precious metal for the past several years,” Friedland wrote in the press brief. “The strong, upward price appreciation since 2016 of the collective basket of metals to be produced by Platreef when commercial operations commence at the Tier One discovery is encouraging.”

At current prices, palladium and nickel comprise more than 60% of the weighted price of the ‘basket’ of metals in Platreef’s ore

Located near Mokopane in South Africa, Platreef is a massive, high-grade, long-life deposit. 

According to Friedland, the mine is expected to produce a suite of vital metals. “The nickel and copper by-products are essential in the electric car revolution, and platinum and palladium are equally vital for hydrogen fuel cell technology and catalytic converters to clean the air,” he wrote.

Based on independent analysis prepared in the 2017 definitive feasibility study, Platreef is projected to have a cash cost of $351 per ounce of 3PE+Au, net of nickel and copper by-products, and including sustaining capital costs. The DFS estimated that the project’s initial, average annual production rate will be approximately 219,000 ounces of palladium, 214,000 ounces of platinum, 30,000 ounces of gold and 14,000 ounces of rhodium, plus 21 million pounds of nickel and 13 million pounds of copper

News No: 6755
Date: 2019/10/20 - 20:45
News Source:

Platreef  gold  palladium  Ivanhoe Mines 


Leave a Comment:


INFOGRAPHIC: The periodic table of commodity returns

And although the broad commodity market finished up 17.6% on the year, the performances of individual commodities were all over the map. For those familiar with the sector, that’s pretty much par for the course.

A global look at high-risk tailings dams

Tailings dams are the most common waste disposal methods for mining companies, whether they’re extracting iron ore, gold or copper.

What to watch for in commodities in 2020

It’s time for some 2020 foresight in raw materials. After commodities posted a 10% advance last year, how will crude to coffee fare in the months to come? The first What to Watch of the new year presents an overview of what to expect and it’s a mixed, complex picture that emerges. The list covers oil, gold, copper, iron ore, pork and more.

Vedanta’s Lanjigarh alumina refinery wins Gold at India Manufacturing Excellence Awards 2019

According to a recent report, Vedanta’s Lanjigarh alumina refinery has won a prestigious Gold award under the Metals Sector at Frost & Sullivan’s India Manufacturing Excellence Awards 2019.

Commentary: Gold sector fragmentation hurts investors

Of all the mining sectors, gold is possibly the most fragmented, and the gold industry and its investors would realize considerable benefits from consolidation. Brokerage Pollitt & Co. estimates that 50% of global iron ore and copper production comes from four and 10 companies, respectively, while 25 companies account for just 45% of total gold production.

Four dead after rock collapse at South African gold mine

Four mineworkers were killed and one was seriously injured after a rock fall at a South African gold mine on Friday trapped five workers underground, the company and a mining union said on Sunday.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners