Barrick Gold is considering a move into the platinum industry it has emerged.

The Canadian firm is looking into establishing a platinum mine at a newly acquired site in South Africa.

The Toronto-based company is hoping to define a reserve of 16 million ounces of platinum group metals at the Sedibelo Bakgetla Ba Kgafela mine, which the company acquired in its recent takeover of Vancouver firm, Placer Dome.

Barrick's executive vice president, Alex Davidson, told the Investing In African Mining conference in Cape Town that the firm is pursuing an aggressive approach and hopes to have the new mine up and running in the short-term.

The firm, which is now the world's largest gold producer following its 94 per cent acquisition of Placer, is planning a feasibility study into the platinum mine this year.



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