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AQP IMP
AQP IMPO
AQP - Aquarius Platinum - IMP - Implats - Joint Press Release Announcement
IMPALA PLATINUM HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1957/001979/06)
ISIN: ZAE000083648
JSE Share Code: IMP
LSE Share Code: IPLA
ADR Code: IMPUY
("Implats" or "the company")
Aquarius Platinum Limited
(Incorporated in Bermuda)
Registration Number: EC26290
Share Code JSE: AQP & ISIN Code: BMG0440M1029
("Aquarius Platinum")
AQUARIUS PLATINUM LIMITED AND IMPALA PLATINUM HOLDINGS LIMITED ANNOUNCE APPROVAL
FOR LOW CAPITAL COST EXPANSION AT THE MIMOSA PLATINUM MINE
Aquarius Platinum Limited and Impala Platinum Holdings Limited are pleased to
announce a low capital cost expansion to increase annual production capacity to
195,000 PGM ounces (100,000 platinum ounces in concentrate) at the Mimosa
Platinum Mine in Zimbabwe.
The expansion project, known as "Wedza Phase V", follows four earlier successful
expansion projects at Mimosa. The expansion is made possible by increasing
concentrator capacity from 150,000 to 175,000 tonnes milled per month. The
additional tonnage will be sourced from the existing South Hill mining
infrastructure and will not have an impact on day-to-day operations.
Total capital cost of the expansion, which has an estimated payback period of
twenty-four months, is forecast at $23.2 million and will be funded from
retained cash flows.
Preliminary design work on the project commenced November 1st, 2006. The rapid
construction schedule envisages completion in June 2007, with full production by
July 2007.
All the necessary government and environmental approvals including National
Project Status have been received.
For further information please contact:
Aquarius Platinum Impala Platinum
In Australia: In South Africa
Willi Boehm Les Paton
Aquarius Platinum Corporate Services + 27 (0)11 731 9018
Pty Ltd
+61 (0)8 9367 5211
In the United Kingdom and South Bob Gilmour
Africa + 27 (0)11 731 9013
Nick Bias
BuckBias Ltd
+ 44 (0)7887 920 530
9 January 2007
Johannesburg
Date: 09/01/2007 09:00:02 Produced by the JSE SENS Department.
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