Platinum mining and exploration firm Platmin has revealed that it anticipates its Pilanesberg project to have a lifespan of 16 years.

The mine on Platmin's Tuschenkomst and Ruighoek properties form part of the Pilanesberg development and the company's latest results suggest a positive future for the properties.

Platmin hopes to begin work on the mine by 2009 and expects to deliver an annual rate of 250,000 ounces of palladium, platinum, rhodium and gold in concentrate during the first 11 years of the programme.

This latest projection comes following the results of the feasibility study carried out on the area. Platmin confirmed it intends to continue with the operations at the Pilanesberg properties after the study delivered confirmation of a robust project.

Platmin said that the average operating margin of the mine would be 46 per cent over the life of the mine.

Sources:

Platmin says Pilanesberg feasibility study positive, expected mine life 16 years, 16/07/07
http://www.forbes.com/markets/feeds/afx/2007/07/16/afx3917057.html

Platmin posts positive feasibility study results and development go-ahead of Pilansberg project, 16/07/07
http://www.platmin.com/Documents/PositivePilanesbergFeasibilityStudyDevelopmentGoAhead20070716.pdf

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