Aquarius Platinum has announced the completion of regulatory approvals for the Marikana Pool & Share Agreement (P&SA2) in South Africa.

The platinum producer, which has most of its operations in South Africa, believes this second pool and share agreement with Angloplats, which was first announced in July, will increase annual production at the mine to 250,000 pgm ounces and provide jobs at the plant until at least 2024.

Following the approvals of South Africa's commission tribunal, the department of minerals and energy and the country's revenue services, Aquarius has announced that upon approbation from the relevant boards: "Implementation of the P&SA2 is anticipated within weeks."

The news comes in the midst of a transition from a pure open cast operation to a mixed underground operation at the mine in the north-west of the country.

Last month, Aquarius revealed record levels of group attributable production during the third quarter of 2005, despite a dip in production at its other pool and share operation at Angloplats' Kroondal mine.


Ÿ Adfero Ltd