Anglo Platinum is planning to significantly improve its production volumes for the second half of the year as it aims to boost its revenues.

Norman Mbazima, Chief Financial Officer of the firm, told Mining Weekly that cost increases had led to lower production levels because Anglo Platinum has a largely fixed-cost base.

But Mr Mbazima felt that the company could increase its revenues if a boost in production was conducted alongside good platinum prices.

The firm is targeting yearly production levels of 2.4 million ounces, and produced one million ounces during the first half of the year.

Neville Nicolau, Chief Executive Officer, said the firm was in a good position to achieve its target for the full year despite the problems that have affected production so far.

He also revealed the firm's projects in Zimbabwe would be "important" and "strategic" over the next two years, Bloomberg reports.

Despite the controversy surrounding Anglo Platinum's investment in the country, Mr Nicolau said it was the "geology outside of South Africa that is significant".



Source:
Angloplat targets volume growth to improve H2 revenues, 28/07/08
http://www.miningweekly.com/article.php?a_id=139202
Anglo Platinum Says Zimbabwe Project `Important', 28/07/08
http://www.bloomberg.com/apps/news?pid=20601116&sid=ag5RKYEU4YXs&refer=africa