Russian platinum miner Amur has produced over 3.5 tonnes of platinum so far this year, it has been revealed.

Russia's Nomos bank announced the mining company's production figures and also revealed it has agreed a $20 million syndicated loan for Amur.

In a statement, the bank revealed that the loan will be for one year backed by revenues from the sale of up to one tonne of platinum ingots, Reuters reports.

Amur's production remains far below that of Russia's largest platinum producer, Norilsk Nickel, which had an output of 17.2 tonnes of platinum during the first nine months of the year and has already stated that it believes production will reach nearly 23 tonnes by the end of 2005.

Earlier this year, Norilsk unveiled plans to improve its environmental policies as part of its review of some of the firm's more outdated policies.

Figures for last year's platinum output are unavailable, as until March data on pgm production in Russia could not be revealed.


Ÿ Adfero Ltd