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Angloplat CEO says group will lift production 100,000 ounces each year for the next four

Neville Nicolau said on Monday that the group planned to increase platinum production at least 3% over the next decade

Posted: Monday , 26 Jul 2010

JOHANNESBURG (Reuters)  - 

Anglo Platinum, the world's biggest producer of the precious metal, plans to increase production by 100,000 ounces each year for the next four years, CEO Neville Nicolau said on Monday.

Nicolau said in an interview the group also planned to raise production of platinum by at least three percent over the next decade from current annual output of 2.5 million ounces. Platinum is used in jewellery manufacturing and to make automotive catalytic converters.

"Our long term strategy revolves around plans on how to find new uses for the metal," Nicolau said.

Nicolau said the autocatalyst industry would continue to drive platinum demand for many years to come, but he also saw growth in the jewellery industry.

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