Gold miner Pan African Resources has announced the first platinum production from its Phoenix project in South Africa.

The precious metals firm said it has successfully commissioned the Phoenix platinum project Chrome Tailings Retreatment Plant (CTRP) two months ahead of schedule.

Planned production for the period until the end of June 2012, including a build-up phase, is estimated to be 4,500 platinum group metal (pgm) ounces.

On an annualised basis, planned production for the period is estimated at 12,200 oz, or 240,000 t/y at an average feed grade of 3.15 g/t.

Jan Nelson, chief executive officer of Pan African, commented: "Being our first major capital project it was imperative that we achieved our milestones on schedule and budget, a testament to the effort of the team."

The firm also reported the sale of pgm concentrate agreement signed with Lonmin's Western Platinum Limited over a five-year period.

Mr Nelson added that this deal, coupled with early CTRP production, "will provide the company with a platinum revenue stream commencing towards the end of the third quarter of this financial year".

"We have now completed our transition into a producer of both gold and platinum group metals," he added.

Source:

Pan African Resources produces first platinum at Phoenix project (30/11/11)  

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