Afplats has provided more details on what it is planning to do at its Leeuwkop development.

The mining company has stated that the initial shaft at the site will be the first of three to be sunk at the development, with mining to begin at the operation in month 21 of the project.

Following the release of the company's feasibility study into the Leeuwkop operation, Afplats chief executive Roy Pitchford stated that full production will begin in month 51.

Commenting on the results of the feasibility study, Mr Pitchford said: "The excellence of the project is illustrated by the fact that at a range of prices and exchange rates, the project produces double digit returns."

However, Mr Pitchford has more recently admitted that he expects the company to be the subject of takeover bids in the near future, following the firm's increased estimated resource base of 100 million ounces.

He said: "One has to assume we could be a takeover target. It could be one of the existing majors or anybody who wants to get into the platinum industry."

The chief executive concluded: "A 100 million ounce resource is big by any stretch of the imagination, so yes, it's a distinct possibility."

However, Mr Pitchford also confirmed that there had been no approaches so far for the mining group.


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