Anglo Platinum has announced that it will go ahead with the Twickenham project at a cost of R5.9 billion.

Located in the east of the Bushveld Complex, the project has been running as a trial mine but will now expand its current operations.

The world's number-one platinum producer is aiming to exploit the UG2 reef zone, Mining Weekly reports.

Mining at the site produced 9,300 oz of equivalent refined platinum last year, an increase on the 6,400 oz it produced during 2006.

The firm also announced expenditure during 2008 could be as much as R11.5 billion.

"Anglo Platinum remains confident of continued robust demand for platinum and is continuing with its expansion programme," a statement from the group read.

"It is pleasing that in 2007 our board approved new capital expenditure to the value of R10.7 billion in continued support of maintaining existing and developing additional production capacity. In 2008, a further R5.9 billion to expand output at our Twickenham mine was approved," joint acting Chief Execuitve Officer, Duncan Wanblad explained.

Source:

Angloplat approves R5,9bn Twickenham project, announces R11,5bn capex programme, 11/02/08

http://www.miningweekly.co.za/article.php?a_id=126573

Anglo Platinum results for the year ended 31 December 2007, 11/02/08

http://www.angloplatinum.com/

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