Angloplat’s growth strategy for Unki

Anglo American Platinum, the world's biggest platinum producer, has a growth strategy for its Unki mine in Zimbabwe, they announced.

Unki platinum mine in Zimbabwe.
Unki platinum mine in Zimbabwe.

Speaking at an interim results presentation in Johannesburg on Monday, CEO Neville Nicolau, said it was optimistic about coming to an agreement with the Zimbabwean government over the mine.

Answering a question from an analyst about Unki – which produced just 22,000 ounces in the first half of the financial year – Nicolau said "we think we are in a positive position and are still confident of a positive outcome in this area".

When the analyst asked "why", Nicolau responded "because we are," adding that the company had a growth strategy for its Zimbabwean operation with full production likely to be reached in the third quarter of 2013.

"We have not bet the company on Zimbabwe, it is a tiny part of our business," said Nicolau, answering another question, stressing that Anglo Platinum wanted to be there due to it being the only country outside of South Africa with large known platinum reserves.

Post published in: Business

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