South Africa’s Platreef mine nearly tripled its platinum-group metals and gold production in the third quarter of 2026 as expanded underground lifting capacity supported its ramp-up. The Ivanhoe Mines project near Mokopane in Limpopo produced 4,552 ounces, up from 1,538 ounces in the previous quarter, though it has yet to reach commercial production.
Ore processed rose to 99,391 tonnes from 37,296 tonnes in the second quarter. The increase followed the June commissioning of Shaft 3, which expanded the mine’s annual hoisting capacity fivefold to approximately 5 million tonnes. That capacity measures the material the mine can bring to the surface, rather than the volume it currently processes.
The shaft allows ore and waste from underground development to be lifted simultaneously. That gives Platreef room to increase mining rates while continuing the excavation needed for its next expansion phase, supporting both current production and access to future mining areas.
Ivanhoe is also developing a second concentrator designed to process 3.3 million tonnes of ore a year, with completion targeted for late 2027. The facility would expand processing capacity as the mine develops the underground infrastructure needed to supply more ore.
A further increase in hoisting capacity is planned through Shaft 2, which is being widened to 10 metres in diameter and is expected to begin lifting ore by the end of 2029. Platreef’s expansion therefore stretches across several years: the latest production gains follow the opening of Shaft 3, while the second concentrator and Shaft 2 represent the next major additions to the operation.
