Angloplat has said that it would increase its production levels if the rand price of platinum rose by between 15 and 20 per cent.

The world's leading platinum producer has cut back its 2006 production target because of the strength of the rand.

But Ralph Havenstein, Angloplat's chief executive, said that if the rand price increased from its current level of 5,100 per ounce to closer to the 6,000-mark the company would reconsider its production targets.

"If the rand price would be increased by 15 to 20 per cent then we can accelerate the projects again," he told the Reuters news agency.

The strength of the rand has hit Angloplat's profitability by making its platinum less competitive in key export markets.

The company first cut its production target a little over 12 months ago and was forced to revise it down again earlier this month.

Angloplat is the world's leading platinum producer providing around 40 per cent of the global supply.