Eland Platinum has announced that it is confident that it will be easily able to reach its target of one million ounces of platinum group metal (pgm) production by 2015.

The recent acquisition of Madibeng Platinum and Mululamisi Mining will help the company to achieve its target, the firm has stated.

Speaking to Mineweb Radio, Eland Platinum Managing Director, David Salter, explained that the acquisitions will give the company access to properties adjacent to its own Elandsfontein operations on the western limb of the Bushveld complex.

Eland is planning development of an underground mine in December this year and Mr Salter said that the project is expected to begin producing 270,000 ounces of pgms per year to 2011, when it will reach full capacity and be capable of doubling that output.

He added that 62 per cent of the metals expected to be produced by the mine will be platinum, while 27 per cent will be palladium.

Sources:

Eland Platinum to reach 1m ounce production target by 2015 with Madibeng acquisition, 7/06/07
http://www.mineweb.net/mineweb/view/mineweb/en/page35?oid=21945&sn=Detail

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