Anglo Platinum could see its production affected after revealing yesterday (27th July) that it is considering putting two further shafts at its Rustenburg mine on care and maintenance.

The world's largest platinum producer already revealed earlier this year that it had taken the step of closing down the Blesbok shaft at the South African facility.

In an interview with Mining Weekly, CEO Neville Nicolau confirmed that the company may now follow suit with another two shafts, at a potential loss of 140,000 oz of high-cost production.

He told the news provider: "We've put Blesbok shaft on care and maintenance, and we'll probably put the two shafts we're looking at on care and maintenance as well.

"These efforts will improve the cost of our Rustenburg mines and, in time, will move them from the fourth quartile to the third quartile on the cost curve."

Mr Nicolau added that he is looking to fix, shut down or sell high-cost shafts which are likely to impact the company's earning potential in the current economic environment.

Anglo revealed in its latest financial results this week that it is maintaining its full-year output forecast of 2.4 million ounces, with the potential to hit 2.6 million ounces in the right market conditions.

Source:

Two more shafts may close, more jobs at risk – Angloplat (27/07/09)

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