A Reuters survey of analysts seeking to predict the extent to which Angloplat will fall short of its 2006 production target has forecast a drop in production levels from the firm's original figure.

The consensus is that the annual platinum output target of 3.5 million ounces will be missed by 380,000 ounces at the end of 2006, leaving likely production at 3.12 million ounces each year.

The analysts' predictions ranged from 2.8 million ounces to 3.36 million ounces.

The world's number one platinum company, whose problems with production have been a factor in the rapid price increase of platinum, has said that it expects 2.3 million ounces to be produced this year, 100,000 ounces short of its target.

A strong local currency in South Africa is making mining operations increasingly expensive in real terms, making expansion and even continued extraction at low-yield sites less commercially viable than before.

The analysts believe that there will be a 374,000-ounce deficit in the global balance of supply and demand, a figure they expect to decline to 105,000 ounces in 2006.