ANGLO American announced on Tuesday an investment of R700-million at the Black Mountain Mine located at Aggeneys in the Northern Cape. Anglo purchased the mine from Goldfields and Phelps Dodge in July 1998. The major element of the expansion project will be the sinking and equipping of a new vertical shaft together with associated underground development. The life of the mine will be extended to at least 2013, securing some 700 jobs for a further 10 years. Black Mountain produces zinc, lead and copper concentrates for sale to toll smelters and refiners.