Xstrata has announced that platinum volumes have increased by 198 per cent in the six months ended June 30th 2008.

Production increased to 64,518 oz in the six months to June 30th 2008, a dramatic increase on the 21,619 oz produced in the same period last year.

Production of palladium reached 30,625 oz in the same period, an increase on the 12,773 oz produced in the six months to June 30th 2007.

Rhodium production also increased to 8,056 oz in the first six months of the year, up from the 3,684 oz produced in the first half of 2007.

The firm said that the "ramp up" of the first phase of the Elandsfontein platinum mine and platinum group metals (PGM) concentrator in South Africa contributed to the increased production levels.

It also revealed that it expects "significantly" stronger results for the second half of the year across its mining commodities including platinum, palladium and rhodium. – Platinum today