Anglo Platinum is hoping to make its extraction of the precious metal in South Africa more efficient by liaising with its fellow mining firms, it emerged yesterday (8th February).

The world's largest platinum producer confirmed this week that its 2009 output reached just over 2.4 million ounces, with a target of 2.5 million ounces now in place for 2010 and 2011.

However, CEO Neville Nicolau revealed in an interview with Mining Weekly Online that the company will aim to eradicate the 'farm-fence' issues that are preventing effective mutual extraction.

"We're talking to our neighbours where there are opportunities to extract better values between ourselves," he told the news provider.

"This is quite important in terms of extracting the maximum value that we can from the Southern African platinum reserves."

The news comes as Anglo confirmed that it intends to spend about R16 billion in capital in 2010 and 2011 in an attempt to add more projects to its platinum portfolio.

With both brownfield and greenfield expansions considered viable, Mr Nicolau also announced that the company sees "huge" potential in platinum-rich Zimbabwe.

"We certainly are looking at other opportunities in Zimbabwe, as we are in South Africa," he added.

Anglo has already been working hard in Zimbabwe on the Unki project, which will eventually ramp up to 65,000 oz per year after production starts at the end of 2010.

In addition to its pgm interests, Anglo is involved in projects focusing on gold, copper, nickel and cobalt sulphate.

Source:

Angloplat talking to neighbours on 'farm-fence' issues - Nicolau (08/02/10)

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