Anglo American Platinum Corporation Limited - Medi
Anglo American Platinum Corporation Limited - Media Release
Anglo American Platinum Corporation Limited
Registration No 1946/022452/06
JSE CODE : AMS
ISIN : ZAE000013181
and
ARM MINING CONSORTIUM LIMITED
Registration No. 2001/001997/07
MEDIA RELEASE
MODIKWA PLATINUM JOINT VENTURE
On 15 August 2001 Anglo Platinum and African Rainbow Minerals (ARM) announced,
the establishment of a 50:50 joint venture to undertake the mining on the farms
at Maandagshoek on the Eastern Limb of the Bushveld Complex.
The companies are pleased to announce that the joint venture is fully
operational and will be known as the Modikwa Platinum Joint Venture. The
companies are extremely proud of this empowerment transaction which has resulted
in the joint ownership of a new platinum mine with a capital cost of R1,6
billion (in 2000 money terms).
The Mine will produce some 162 000 oz of refined platinum per annum at full
production and create approximately 2 100 new jobs. Other benefits from the
mine are the enhancement of infrastructure to communities on the Eastern Limb
and the creation of numerous small and medium enterprise and other business
opportunities in the area.
Construction of the Modikwa Platinum Mine is proceeding, with mining and plant
commissioning already commenced.
For further information, please contact
Mike Mtakati Mangisi Gule
Anglo Platinum African Rainbow Minerals
(011) 373-6865 (011) 883-5606
083 455 7887 082 805 3863
Johannesburg
24 July 2002
Date: 24/07/2002 09:58:25 AM Produced by the JSE SENS Department
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