Friday, 4th February 2005 (2616 views)

Mining firms are planning to increase gold output at the South Deep mine in South Africa by around two thirds by 2009.

The joint venture of Western Areas and Placer Dome hope to see the mine produce 490,000 ounces of the precious metal this year.

According to Reuters, the mine is one of the deepest in the world and a new shaft is to help slash costs for both companies.

Mafika Mkwanazi, chairman of Western Areas, explained: "Should the joint venture board approve the plan, a ramp-up in production to as much as 800,000 ounces by 2009 is possible."

Miners at the site can now access the orebody in ten minutes, instead of spending about three hours travelling to it, thanks to a new twin shaft complex.

 

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