Eastern Platinum aims to raise its platinum production to 700,000 ounces in the next seven years, according to CEO Ian Rozier.

Mr Rozier expects production to grow in stages, with output growing to 300,000 ounces in three years' time, then up to 500,000 after five years, with the target finally reached in the seventh year of the projected timeframe.

The company hopes to achieve the increased output by maximising its existing operations in Bushveld Igneous Complex, which are estimated to contain close to 70 million ounces of platinum group metals (pgms), and via a raft of new projects.

Mr Rozier said that the new ventures will commence with the expansion at their mine at Zandfontein, which will be followed by a further project at Crocodile River and the Mareesburg project.

Finally, the combined Spitzkop and Kennedy's Vale project will be developed, and eventually converted from an open cast mine into an underground operation, by which time it is expected to produce 300,000 ounces annually.

News of Eastern Platinum's ambitions comes after it recently announced it would be upping its stake in Barplats to 74 per cent.

Ÿ Adfero Ltd