Aquarius Platinum has announced that group production reached 500,203 oz of platinum group metals during the year finishing 30.6.08.

The figure was a slight decrease on the 2007 figure of 530,276 oz but there was an increase in underground production at all operations.

Aquarius Platinum also revealed improved margins at its Kroondal and Everest operations, despite issues with power supply and industrial relations.

Stuart Murray, Chief Executive Officer of Aquarius Platinum, said that production had been impacted by cost pressures and difficult industrial relations.

"Despite a challenging year, I believe that Aquarius is on a strong footing to recover from the production set-backs of 2008 and pick up again with the march for value driven growth in the new financial year," he explained.

Its Kroondal mine produced 391,117 oz of platinum group metals, a decrease on the 439,351 oz produced during 2007.

Meanwhile, production at the Everest operations reached 157,994 oz, a small decrease on 2007's figure of 163,938 oz.



Source:

Aquarius Platinum annual results, 7/08/08
http://www.aquariusplatinum.com/aquarius_db/files/Aquarius%20Platinum%20FY2008%20Results%20FINAL.pdf