Aquarius Platinum has announced record platinum production figures for its full year to June 30th.

The firm has revealed that annual output increased by 19 per cent, to 530,726 oz of platinum group metals (pgms), helping the firm to post net profits 119 per cent higher than the previous year's figures.

Profits reached $187 million, with increased production and higher prices for pgms helping to boost Aquarius' results.

Aquarius Chief Executive, Stuart Murray, welcomed the results, commenting: "At Aquarius, we are not alone in experiencing more challenging geology, though recognising this, we have changed our mining planning and strategy to provide for more on-reef development at our operations, which, over time, will result in improved mining efficiencies."

The firm's production increases were largely down to the development of the new K5 shaft at its Kroondal operation, as well as the increases brought through from the Everest underground operations.

Growth was also seen at the Marikana and Mimosa operations, Aquarius stated.

Source:

Full Year Results: 30 June 2007, 8/08/07
http://www.aquariusplatinum.com/aquarius_db/files/Aquarius%20Platinum%20FY2007%20Results.pdf

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