Mining giant Anglo Platinum is set to make a decision on the future of its multi-billion rand Twickenham project by early next year.

The company has announced that it is to make a final decision on whether it will build a mine at the project following the completion of the final feasibility study.

According to Duncan Wanblad, who will take over as joint Acting Chief Executive at the start of September, there is more work to be done on the feasibility study and any decision on the future of the mine may be held over until the first quarter of 2008, after the firm had hoped to make a judgment by the end of this year.

Speaking to Reuters, Mr Wanblad explained that there had been a blow to the financial outlook of the Twickenham venture in the form of a major increase in costs within the mining industry.

"It's not as rosy because the capital costs have gone up," he explained, adding that weighted average of inflation for capital costs in mining is currently standing at around 18 per cent.

Sources:

Angloplat decision on Twickenham by Q1 2008, 30/07/07
http://africa.reuters.com/business/news/usnBAN052675.html

Angloplat decision on Twickenham by Q1 2008, 30/07/07
http://www.miningweekly.co.za/article.php?a_id=113604

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