Anglo American Platinum has confirmed a $1.2 billion expansion investment at its Mogalakwena operation in Limpopo province, South Africa, the most significant capital commitment to a single South African platinum mine in over a decade.
The expansion will involve the deepening of two existing open pits, construction of a new concentrator plant with 25% greater throughput capacity, and upgrades to the tailings storage facility to meet modern environmental standards. Production is expected to increase from approximately 550,000 platinum group metal ounces per year to over 700,000 ounces annually at full ramp-up, targeted for 2028.
The investment comes against a backdrop of significant change in platinum group metals demand. While conventional catalytic converter applications are gradually declining as battery electric vehicles increase market share, demand for platinum in hydrogen fuel cell technology, particularly for heavy transport and industrial applications, is growing strongly.
Anglo American has made hydrogen one of the strategic pillars of its Future Smart Mining programme, and Mogalakwena is positioned as a key supplier for the hydrogen economy.
The announcement was welcomed by the National Union of Mineworkers, which represents the majority of Mogalakwena's approximately 6,800 employees. The union emphasised the importance of skills development and localisation commitments being embedded in the expansion plan.