Revenue for Aquarius Platinum increased by 45 per cent to $682.9 million (£421.5 million) in the year ending in June, while headline earnings increased more than fivefold to $142.8 million (£88.1 million).

Overall, the company reported a net loss of $10.4 million (£6.4 million) due to an asset impairment of $159.8 million (£98.6 million) at the Blue Ridge mine, after operations were ceased due to low Rand pgm prices.

Stuart Murray, chief executive officer of Aquarius Platinum, said the 2011 financial year was generally improved for the company, although they reflected the volatile economic climate.

"The better market conditions together with strong operational performances from our mines during that period set Aquarius up for a good full year result," he went on to say.

In May, Aquarius Platinum announced the acquisition of mineral rights on farms adjacent to its Everest Mine, on the eastern limb of the Bushveld Igneous Complex.

Source:

Aquarius Platinum results hit by Blue Ridge impairments (11/08/11)
 

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