Anglo Platinum could shed as much as 150,000 oz of platinum following South Africa's electricity shortage.

The mining firm has already shed 30,000 oz of the metal but this figure could be increased depending on the severity of the ongoing energy crisis.

Before the supply was hit, Anglo Platinum was in line to produce 2.55 million ounces platinum but this could be cut to 2.4 million ounces.

Duncan Wanblad, joint acting Chief Executive Officer, said the estimate included the 60,000 oz the firm lost when some of its operation was flooded in January.

Mining firms are currently operating on about 90 per cent power after Eskom allowed them enough to resume their mining operations after not being able to guarantee power.

If Anglo Platinum loses the estimated 150,000 oz it will have lost about three per cent of its previous production forecast for 2008, Mining Weekly reports.

As the crisis continues President Mbeki has called upon the mining companies to join with the Government and Eskom to develop a solution to the problems and praised their cooperation so far.

Source:

Angloplat may shed 150 000 oz in 2008, 11/02/08
http://www.miningweekly.co.za/article.php?a_id=126615


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