The chief executive of Anglo Platinum has revealed plans for a platinum-renewal project at its Potgietersrust Platinums (PPRust) mine.

Ralph Havenstein announced that initial approval had been given to the project and indicated that the mine could be subject to further extensions in the future.

Work on the mine would cost around R1.4 billion, but is needed to increase output and together with a second extension, would allow for an extra 230,000 ounces of platinum a year, reports Mining Weekly.

Although any additional expansions have not yet been given regulatory approval, Angloplats is confident that the substantial work will go ahead, helping to boost production levels.

The plans follow the release of year-end results for the firm, which showed a 63.1 per cent increase in earnings per share and an impressive growth in production levels during 2005.

Mr Havenstein attributed the success of last year to high metal prices and increased demand for pgms, adding that he was optimistic for the year ahead.

Ÿ Adfero Ltd