/ 7 April 2001

ANGLOPLAT, LONMIN TO DEVELOP PANDORA

WORLD number one platinum producer Anglo American Platinum and Lonmin Platinum Plc (Lonplats) have announced a joint venture to develop the Pandora mine on reef deposits straddling their border. The Pandora mine would have an expected annual production rate of 230 000 ounces of platinum and 110 000 ounces of refined palladium and have an expected life of 30 years. The initial capital of the joint venture was estimated at R1.42bn, the companies said. – Reuters