The head of the world's largest platinum producer has said that high spot prices will not affect its long-term production goals.

Anglo Platinum, which reportedly accounts for 40 per cent of the world's platinum supply, has had to cut back expansion plans in the face of falling profitability in the past.

The company's chief executive Ralph Havenstein told Reuters that it did not base long-term investment options on what has been a volatile spot price for the metal.

"We continue to increase our production capacity to meet global demand growth. We are encouraged by strong physical demand," he said.

"The spot price does not have a major influence over our long-term view," he said.

Anglo Platinum missed its production targets last year, while some believe that fellow platinum giant Lonmin will struggle to meet production owing to the temporary closure of its main furnace earlier this year.

Ÿ Adfero Ltd