Friedland’s Ivanhoe Gets South Africa Platinum Mine Go-Ahead
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Billionaire Robert Friedland’s Ivanhoe Mines Ltd. gained the most in 17 months after overcoming local opposition to get final approval to build one of the world’s biggest platinum mines in South Africa.
The country’s Department of Mineral Resources signed off on the license to produce platinum-group and base metals at the $1.6 billion Platreef project in the northern Limpopo province for a renewable 30-year period, the Vancouver-based company said in a statement today.