Anooraq Resources saw pgm production at its Bokoni Platinum Mines facility remain flat during the fourth quarter of 2009, it emerged yesterday (31st March).

Overall output reached 30,512 oz, with platinum production recorded at 16,132 oz, representing a decline of three per cent from the previous quarter.

Palladium production increased by two per cent to 11,498 oz, while rhodium output was down three per cent to 1,816 oz and gold production rose by two per cent to 1,065 oz.

"The turnaround at Bokoni has been mirrored by the recovery in the global pgm markets, and we look forward to being a growth producer in an upward-trending commodities market moving into 2010 and beyond," commented President and Chief Executive Philip Kotze.

In addition, Anooraq revealed that pgm 3E plus gold recoveries increased by five per cent during the quarter, while head grade rose by five per cent to 4.39g per tonne.

The company was particularly satisfied with the improved recoveries, as it forms a major part of the attempt to increase total output from the facility to 270,000 oz pgm by 2013.

Anooraq also has a controlling interest in the Ga-Phasha project - which is located adjacent to Bokoni on the eastern limb of the Bushveld Complex - and the Boikgantsho and Kwanda projects.

Source:

Anooraq Announces Results for the Period Ended December 31, 2009 (31/03/10)

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