Anooraq Resources plans to double the output of platinum group metals (PGMs) at a South African mine within the next three years.
Anooraq Resources CEO Philip Kotze said the company aims to double output to 240,000oz by 2014 from its Bokoni mine, which is currently producing about 120,000oz a year of PGMs.
The second phase of growth would increase production of PGMs at Bokoni to 650,000oz by 2016, and, if the company develops its Ga-Phasha project, a further 300,000-400,000oz could be added each year.
The first phase of growth is expected to cost $131.5m.
Anooraq Resources has 200 million ounces of PGMs resources, which accounts for the third-largest untapped resource in South Africa, reports Business Day.