Anglo Platinum (Angloplat) said expected production levels at its third platinum mine in Zimbabwe had almost doubled.

The world's leading platinum miner originally expected to produce 85,000 tonnes per month at the Unki project.

But speaking to the Reuters news agency last night, Trevor Raymond, investor relations manager at Angloplat, said he now expected production to hit 120,000 tonnes per month but at a higher cost.

"The revised capital cost of the project is now $200 million," he said, a significant increase on the initial estimate of $90 million.

Angloplat is aiming to produce 2.9 million ounces of refined platinum in 2006, up on the 2.45 million ounces it produced last year.

The Unki project is being jointly developed by Angloplat and Anglo American Zimbabwe.

Zimbabwe has rich deposits in platinum and other valuable minerals, but mining firms have been concerned about the policies of president Robert Mugabe towards foreign investors.


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