Impala Platinum has announced that production of platinum increased by two per cent in the year ending June 30th 2008.

Production of platinum reached 1.9 million ounces during the period while gross production decreased by six per cent to 1.91 million ounces.

A total of 20,000 oz of platinum was lost during the power crisis and Presidential Safety Audits with eight and 12 per cent increases in production at the Marula and Two Rivers projects respectively.

David Brown, Chief Executive Officer of Impala Platinum, said that the year had been dominated by "safety, the power crisis and a sharply decreased availability of skills".

The firm is planning to increase production to 2.5 million ounces of precious metals by 2015 through focussing on safety and the retention of skills.

Meanwhile, Mr Brown also revealed that the company would continue to pursue its expansion plans in Zimbabwe, despite the precarious political situation.

Speaking to Reuters, he acknowledged that the climate was "not stable" and said that it was unlikely to invest large amounts of money.



Source:

Implats reports an excellent performance in a difficult environment, 28/08/08
http://www.implats.co.za/im/press_display.asp?id=229

Impala Annual Profit Doubles on Prices, Asset Sale, 28/08/08
http://www.bloomberg.com/apps/news?pid=20601116&sid=aHXdStdgDNwA&refer=africa

Implats eyes output target of 2.5 mln ounces by 2015, 28/08/08
http://africa.reuters.com/country/ZW/news/usnWEA7393.html