The Globe and Mail reports in its Wednesday edition that Robert Friedland has opened the first phase of a $2-billion (U.S.) platinum mining project in South Africa. The Globe's Geoffrey York writes that the Ivanhoe Mines founder and South African President Cyril Ramaphosa cut the ribbon on Tuesday at the Platreef mine. Mr. Friedland described the project as "the world's largest undeveloped precious-metals mine" and one of the lowest-cost sources of platinum, palladium, rhodium, nickel, copper and gold. South Africa has suffered decades of declining production and labour disputes in the sector. However, its government is keen to tout the Platreef project as a harbinger of better days. Mr. Ramaphosa called mining a "sunrise industry that must continue to play a critical enabling role in our nation's development." The mine's concentrator plant, he said, shows that South Africa is "positioning itself as a strategic partner in the global energy transition and the next wave of green industrialization." Ivanhoe is investing $1.2-billion (U.S.) in the first two phases of the Platreef project, with the second phase scheduled for production in late 2027. The third phase, if approved, would cost a further $800-million (U.S.).