Stillwater Mining has announced that it is aiming to make a significant boost to its production in the next few years.

The company, which is the only platinum and palladium miner in the US, said that it was aiming for a 44 per cent boost to current production levels.

It said that the increased production would be achieved through the changing of mining methods and by expanding existing operations.

Francis McAllister, chairman and chief executive of the company, told Reuters that his company was targeting a 10 per cent increase in its production of palladium and platinum in 2007, on top of an increase to 600,000oz this year from the 554,000oz produced in 2005.

"Over a few years, we will get up to 800,000oz," he said, giving no time frame.

He added that the firm had adopted new mining techniques, known as selective mining methods, which should lower equipment and support costs.

Major PGM producers Anglo Platinum and Lonmin have recently confirmed they would be expanding production over the coming years to meet increased demand.

Ÿ Adfero Ltd