Metal Information Center

Anglo Platinum’s Amandelbult mine to yield 700,000 oz by 2010-12

December 10, 2006 – 6:20 am

Anglo Platinum, which is 74.9% owned by Anglo American PLC (AAUK), is the world’s largest primary producer of platinum. Amandelbult is the company’s second-largest mine.

Anglo Platinum said it is spending about 1.5 billion rand ($210.5 million) on its UG2 East Upper project, with construction beginning in 2007 and production commencing in 2008 before reaching full production in 2012. The expansion project at the mine will add 100,000 ounces of platinum a year, the company said.

Average capital expenditure at the mine is expected to run at about ZAR600 million a year, from the ZAR566 million in 2005 and ZAR314 million in 2004, Anglo Platinum said in a presentation given to analysts at Amandelbult.

According to the company’s Web site, a revised expansion program is expected to see Anglo Platinum produce 2.9 million ounces of refined platinum in 2006. It produced 2.45 million ounces of platinum and 1.31 ounces of palladium in 2004.acx