Author: UpperCanada -- Date:2002-02-14 10:59:10
Subject: SouthernEra of Canada Mulls Second South African Platinum Mine
SouthernEra of Canada Mulls Second South African Platinum Mine By Antony Sguazzin Cape Town, Feb. 13 (Bloomberg) -- SouthernEra Resources Ltd., a Canadian platinum and diamond mining company, may open a second platinum mine in South Africa to boost future production, the company's top executive said. The mine would be dug on the Millennium Platinum concession 60 miles south of SouthernEra's existing Messina site, near South Africa's border with Zimbabwe. The company expects additional exploration to be complete by the end of March. ``Millennium has the potential to host a new mine,'' said Patrick Evans, SouthernEra's president and chief executive officer, speaking at a mining conference in Cape Town. He didn't estimate the size of any new mine. SouthernEra has focused its foreign investment on southern Africa, where besides Messina it has interests in two South African diamond mines and plans to start digging a diamond mine in Angola with Israeli gem trader Lev Leviev. That mine, Camafuca, is expected to produce 330,000 carats a year from a deposit of 23 million carats. The deposit is worth about $2.5 billion, Evans said. ``Development will commence in a matter of months if not weeks,'' he said.
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