The world's largest platinum producer has announced an improvement in its earnings during the first half of 2005, compared with the same period the previous year.

Anglo Platinum (Angloplat) has stated in its interim results that total headline earnings jumped by 40.9 per cent, due to higher US dollar metal prices, increased sales volumes and the effects of changes in tax and stocks.

However, the miner also stated that its margins have remained steady, largely thanks to increases in mining unit costs, which rose by 13.3 per cent during the course of the first six months of the year, while refined unit costs climbed 3.2 per cent.

It also reported a tight rhodium market and warned that the continued strength of the rand is likely to dampen future supply.

Overall, demand for pgms remained solid, Angloplat stated, with solid industrial platinum demand, resilience in the important Chinese marketplace and sound palladium consumption.

Angloplat added that future expansion would "continue in line with increased demand", and anticipated that there could be some acceleration in its developments if improved rand metal revenues are sustained.