💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

BRIEF-Ivanhoe Mines says permanent sinking work begins on Shaft 1 at Platreef Project

Published 2016-07-14, 08:00 a/m
© Reuters.  BRIEF-Ivanhoe Mines says permanent sinking work begins on Shaft 1 at Platreef Project
HG
-

July 14 (Reuters) - Ivanhoe Mines Ltd

* Permanent sinking work has begun on shaft 1 at platreef platinum-group metals, nickel, copper and gold mine in South Africa

* Shaft 1 is expected to reach flatreef deposit, at a depth of 777 metres, during Q3 of 2017.

* Owns 64 pct of platreef project through its subsidiary, Ivanplats

* Expects subsequent main sinking phase will advance at average rate of 2.7 metres a day until it reaches depth at 1,025 metres below surface in 2018

* Shaft 1 to be funded from funds remaining in co's treasury from $280-million received in 2011 for sale of an 8 pct interest in platreef project Source text for Eikon: ID:nCCN8wbcs Further company coverage: IVN.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.