The majority of the expansion in world number two platinum miner Impala Platinum’s platinum output from about 1,8-million ounces to 2,3-million ounces by 2010 would come from South Africa, Implats investor relations representative Bob Gilmour said on Tuesday.
During that period about 70 000oz of platinum growth would come from Zimbabwe, where Implats has a 50% stake in the Mimosa mine and almost 87% stake in Zimplats, he added.
Significant growth in Implats’ Zimbabwe platinum output was likely to come after 2010, Gilmour added.
During Implats’ 2005 financial year to June, Zimplats’ total output was 86 200oz of platinum in matte and the Mimosa mine’s total platinum production in concentrate was 66 700oz.
Implats had previously indicated that increasing its refined platinum production to 2,3-million ounces depended on the expansion of the group’s Zimbabwe operations.
About 120 000oz of the extra platinum would be produced from Implats’ 45% stake in the Two Rivers joint venture with African Rainbow Minerals, which is to start coming online in 2006, 145 000oz of platinum would come from Marula Platinum in the Limpopo province by 2009 and recycling of platinum from auto catalysts would contribute about 100 000oz.
The Impala Lease area would make up the rest of the increase with the company aiming to up platinum output to 1,150-million ounces per annum with the ultimate target of 1,2-million ounces annually, Gilmour said.
With Lonmin set to buy out Messina Platinum and delist the company from the JSE, Implats’ processing services would no longer process about 40 000oz platinum for Messina from early 2006, he added. – I-Net Bridge