Amplats approves R3.9bn life extension project

Anglo American Platinum has approved a project to extend the life of its Mototolo platinum mine by 30 years.

The company on Friday said its board had approved the R3.9 billion Mototolo-Der Brochen life-extension project which leverages the existing Mototolo infrastructure to extend into the adjacent and down-dip Der Brochen resource.

The project is expected to help maintain the operation’s production at around 250 000 platinum group metal ounces per year. Execution will begin in the first quarter of next year.

"The Der Brochen project is one example of the high-quality, low-cost expansion options we have available in our existing portfolio of assets that will allow us to continue delivering industry-leading returns to shareholders," said Natascha Viljoen, Amplats CEO.