Impala to invest R9bn17 Jun 2003
IMPALA Platinum anticipates investing R9bn over the next decade on capital expenditure at its Rustenburg mine to maintain output at 1-million ounces of platinum a year. 

Corporate affairs director Cathie Markus said yesterday the group recognised that mining deeper would need a new vertical shaft. The move would maintain production levels for the rest of the mine's 30-year lifespan. 

The company had delayed sinking a new shaft by sinking several new declines below the existing shafts, but this option was now reaching its limits. The capital expenditure programme involved constructing a R6bn shaft system, now in the advanced planning stage and expected to be finished by 2011. 

Markus also said another R1,5bn had been earmarked for the development of No20 shaft, due to start production in 2008, while the remaining expenditure would be dedicated to current mining projects. 

Markus did not expect the capital expenditure programme to create new jobs directly, as the project was not an expansion, but there was a possibility that new jobs might be created in industries that supplied Impala. 

She said the project was in the feasibility stage and expected a board decision to be made this year or early next year. 

Jun 17 2003 07:02:26:000AM Nicola Jenvey Business Day 1st Edition

17 June 2003