Mining giant Anglo Platinum is on course for its planned expansion in platinum production, thanks to a boost in funding and advances in technology.

Anglo Platinum has set itself a deadline of 2006 by which it wishes to produce 3.5 million oz of refined platinum annually, a task which Angloplat geologist Gordon Chunnett says will ultimately prove successful.

'I am confident that we will meet all our deadlines,' he told Mining Weekly.

In order to achieve Angloplat's production goal, a sharp increase on the current annual output of 2.25 million oz of platinum, its exploration budget will be boosted by 35 per cent this year, to R394 million.

In addition Mr Chunnett says developments in technology and strategy has enabled Angloplat to halve ten-year exploration-to-production cycle.

'This requires a dedicated, committed and enthusiastic team of professionals and their support structures,' he explained.

Alluding to current ongoing external projects, including the River Valley project in Canada, the Urals in Russia and the Unki deposit in Zimbabwe, Mr Chunnett said work was 'going very well, with some at an exciting advanced stage'.

'The majority of the exploration activities are currently focusing on the evaluation of resources and feasibility studies, with some limited activity directed towards new sources of pgms,' he explained.