Impala Platinum has been granted new-order mining rights for the Leeuw-kop project.

The project is also undergoing an expansion programme, including the development of a twin mine shaft system enabling access to the orebody at the upper group two reef.

Les Paton, Executive Director of the firm, said that he welcomed the announcement of the new mining rights, saying that the project was a key part of Impala Platinum's long-term growth plan.

The mine is expected to produce 160,000 oz of platinum at full production.

Meanwhile, the BBB+ international and AA (zaf) national rating, which reflects the firm's position as an important platinum producer, showed that the company has a stable outlook.

Alistair Crosbie, Fitch Ratings analyst, said that the firm's outlook was strong and he did not expect this to change in the coming years.

"The BBB+ is an international investment-grade rating. Impala has also been assigned an AA rating, which is only two notches below government," Mr Crosbie explained.



Source:

New-order mining rights granted to world’s second-largest platinum producer, 27/06/08
http://www.miningweekly.com/article.php?a_id=135608

Platinum-miner assigned a sound credit rating by international agency, 27/06/08
http://www.miningweekly.com/article.php?a_id=135590