Pan African Resources, the African-focused precious metals producer, is breaking into the platinum market with its Phoenix project.

The firm said it has commenced bulk earthworks - site clearance ahead of plant construction - at its Phoenix Platinum Project in the North West Province of South Africa.

Pan African, which has until now only produced gold, said construction of the Chrome Tailings Retreatment Plant (CTRP) at Phoenix is on schedule and the procurement of major equipment has been completed.

Construction of the plant is scheduled to start in the middle of May, with plant commissioning planned for October 2011.

The CTRP full production rate of 20,000 tonnes per month is expected to be achieved in the first quarter of 2012.

Jan Nelson, chief executive officer of the company, said: "This is another key milestone in the process of Pan African becoming a platinum producer in addition to the company already producing approximately 100,000 ounces of gold per annum."

He added that progress with the site on schedule and on budget and the firm is looking forward to reporting its first production later in 2011.

Pan African said total platinum resources currently stand at 469,000 oz.

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Hitherto gold-focused Pan African breaks ground at platinum project (01/04/11) 

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