Anglo Platinum has announced that it is to go ahead with its expansion plans in 2008 after its interim report showed confidence of continued demand for platinum group metals (pgms).

The company's report revealed that its board has agreed to new capital expenditure of R6.2 billion, which will include funding for increased output at the Lebowa Middelpunt Hill UG2 project.

According to Anglo Platinum, it will be seeking additional output at Lebowa of 93,000 oz of refined platinum by 2012.

Overall, the company aims to continue its stated growth target of five per cent per year.

According to Mining Weekly, Anglo Platinum's Rustenburg Paardekraal Two shaft replacement project is progressing on schedule and is aimed to be producing 120,000 oz per year by 2015.

The other mines under development at Anglo Platinum are also said to be progressing on schedule, including the PPRust North expansion programme, which is designed to add 230,000 oz of platinum per year to production by 2009.

Meanwhile, the Amandelbult scheme has reached steady-state production and has surpassed its production plan. The East Upper UG2 project will reach steady-state production in 2012 and bring in 106,000 oz of platinum per year.

Sources:

Platinum giant continues expansion programme within booming market, 7/12/07
http://www.miningweekly.co.za/article.php?a_id=121760

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