Ivanplats definition
Examples of Ivanplats in a sentence
The Municipality will endeavour to generally do such things as may be reasonably possible and within its power to assist Ivanplats in its development of the Platreef Mine.
Should the Suspensive Condition not be fulfilled within 90 days after the Signature Date (or such longer period as Ivanplats and the Municipality may agree in writing), Part C [Final Agreement] shall lapse and shall be of no further force or effect.
In the event that the supply of Product from the Masodi Treatment Works should at any time fall below the Supply Volume, the Municipality will be obliged to provide Ivanplats with the shortfall in Product or, alternatively, Ivanplats will be entitled to source its own Product with any reasonable cost differential being for the Municipality’s cost and, in this regard, Ivanplats may be asked by the Municipality to help with finding alternative sources.
Ivanplats and the Municipality will engage regularly with each other (through their established communication platforms) to discuss, investigate and, if appropriate, pursue the Future Water Supply Projects.
Ivanplats will purchase the Product at a rate of R5.00/Kℓ (excluding VAT) for the first 10 Mℓ/day of Product, which amount will be increased at the CPI rate on each anniversary of the commencement of the Product Supply Arrangements, provided that such rate may be adjusted by way of agreement between the Parties if and to the extent that this rate is insufficient to fund the reasonable operation and maintenance costs of the Masodi Treatment Works.
With effect from the payment of the Pre-Approval Financial Assistance (or any portion thereof) to the Municipality pursuant to paragraph 2.1.1, Ivanplats shall be entitled to a right of first refusal for the purchase of all treated effluent from the Masodi Treatment Works up to a total volume of 10 Mℓ/day or the maximum rated production capacity of the Masodi Treatment Works from time to time, whichever is higher (“Pre-Emptive Right”).
Ivanplats shall guarantee consumption and/or purchase of at least 5 Mℓ/d of Product for use in the Platreef Mine with effect from commencement of steady state production from the Platreef Mine in 2022 (“Demand Volume”).
The Product will be made available to Ivanplats for use in the Platreef Mine from an agreed connection point at the Masodi Treatment Works.
Ivanplats will conduct quarterly independent audits on the operation and maintenance of the Masodi Treatment Works to evaluate supply and quality as contemplated in the Product Supply Arrangements.
Upon fulfilment of the Suspensive Condition, the Pre-Emptive Right shall be included in the arrangements set out in the Final Agreement and any Pre-Approval Financial Assistance payments made by Ivanplats to and/or at the direction of the Municipality shall be treated as forming part and parcel of the Masodi Treatment Works Completion Funding provided for in the Final Agreement.