Northam secures concentrate offtake agreement with Ivanplats
JSE-listed Northam Holdings has concluded a ten-year agreement for the purchase of platinum group metals (PGMs) concentrate with Ivanplats, a subsidiary of Ivanhoe Mines.
In terms of the agreement, Northam will buy about 20 000 t/y of PGMs concentrate, from Ivanplats’ Platreef mine on the northern limb of the Bushveld Complex in South Africa’s Limpopo province.
Ivanplats has indicated that first production from Phase 1 of the Platreef project is anticipated in 2024.
Platreef will produce about 40 000 t/y of PGMs concentrate.
“Northam is pleased to have secured significant future offtake of concentrate relating to a very important orebody. The properties of the concentrate are especially favourable to Northam’s operational and processing requirements.
“Furthermore, the transaction serves to derisk Northam’s operations from a mine-to-market perspective, providing additional diversification of supply over a ten-year period, while at the same time leveraging our recently upgraded metallurgical processing facilities,” Northam CE Paul Dunne says.
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