African Rainbow Minerals (ARM) has announced plans to increase its production of platinum group metals (pgms) by 2010.

The mining company has revealed it intends to up its pgm output to 700,000 by the end of the decade, with the majority being produced at the Modikwa mine, in which ARM owns a 50 per cent stake.

According to ARM, it should be producing around 350,000 ounces of pgms by 2009 and will be able to double that capacity within a year to reach its goal.

Much of that final increase will come from the development of its Nkomati mine, with the large-scale expansion of the site due to come into operation in 2010, the firm explained.

To achieve the aims, ARM added that it would spend R4.78 billion in capital expenditure between now and 2009.

Sources:

African Rainbow Minerals, 20/06/2007
http://www.arm.co.za/
http://www.arm.co.za/content/webdata/presentations/2007/DeutscheBankSouthAfricaConference/ARM_June07.pdf

Mining Weekly, 20/06/07
http://www.miningweekly.co.za/article.php?a_id=111374

Ÿ Adfero Ltd