South African platinum firm Aquarius has agreed its second "pool and share" arrangement with Anglo Platinum around Marikana Mine.

Known as the P&SA2, Aquarius believes that the deal will prolong the life of the mine by ten years to 2024, thereby boosting the supply of platinum and platinum group metals (pgm) in the coming years.

To come into effect in September this year, the arrangement will also see the Marikana Mine increase its production to 250,000 pgm ounces per year, of which half will be owned by Aquarius and half by Anglo Platinum.

However, Aquarius chief executive Stuart Murray warned that the company's attributable production at Marikana will be "halved" when the P&SA becomes effective, but he added that production should return to 125,000 pgm ounces per annum "within 18 months".

The move comes following a similar agreement between Aquarius and Anglo Platinum at the Kroondal mine.