Anglo American Platinum Corporation Limited
("Anglo Platinum")
(Incorporated in the Republic of South Africa)
Registration number 1946/022452/06
ISIN: ZAE000013181
JSE Code: AMS
Issuer code: ANANP
Anglo Platinum and Amzim to proceed with the Unki Project in Zimbabwe
Anglo American Platinum Corporation Limited ("Anglo Platinum") and Anglo
American Corporation Zimbabwe Limited ("Amzim") are pleased to announce that
they are to proceed with the initial phase of the development of the Unki
platinum project situated near Gweru on Zimbabwe"s Great Dyke. The project is
subject to certain Zimbabwean and South African regulatory and fiscal approvals
which are expected to be granted in the near future.
The project involves the development of an 85,000 tons per month mine which will
include an on-site concentrator. The mine will produce concentrate containing
some 58,000 oz of refined platinum per annum at full capacity and first
production from the plant is expected in 2007. The total project cost is
estimated at some US$90m. The concentrate produced by the mine will be smelted
and refined by Anglo Platinum in South Africa. The project will be implemented
on a phased basis and at full production some 1300 direct employment
opportunities in Zimbabwe will have been created.
Anglo Platinum will hold a majority shareholding in Unki and will also manage
the operations. Anglo Platinum and Amzim will fund the initial development
phase from existing cash resources and borrowing facilities. Amzim is in
discussions with indigenous parties with a view to their acquiring an equity
interest in Unki.
For further information, please contact
Mike Mtakati Ezra Kanganga
Anglo Platinum Anglo American Corporation Zimbabwe
Tel : (011) 373-6865 Tel : +263 4 7090 3316
Cell : 083 455 7887 Cell : +263 91 239 303
11 April 2003
Sponsor
Merrill Lynch South Africa (Pty) Limited
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
