Zimbabwe Platinum (Zimplats) has announced an increase in its platinum group metal (pgm) output during the second half of 2006.

The mining firm has reported a 1.1 per cent increase in pgm production during the final six months of last year, compared to the same period in 2005.

In the six months to the end of December 2006, Zimplats reported production of 94,766 pgm ounces and the firm is also looking to boost output even further when its Ngezi expansion project is completed.

The Ngezi operation began during the finals six months of 2006 and will see the construction of eight underground mines, as well as an expansion of its smelter.

Zimplats also revealed a 217 per cent surge in profits, to $48.8 million during the six months to December 31st, largely due to higher metal prices.

Ÿ Adfero Ltd