Aquarius Platinum confirmed yesterday (28th October) that its attributable production increased by nearly a fifth during the first quarter of the 2009 fiscal year.

The company posted an output of 128,366 oz PGM, representing an increase of 17 per cent from the previous quarter results up to and including 30th June, 2008.

Production was up at five of its six mines, with the only exception being CTRP, where a quarter-on-quarter fall of 14 per cent was recorded, taking the latest figure to 1,764 oz PGM.

The most significant increases were posted at Kroondal and Marikana, which were up 22 per cent to 101,731 oz PGM and 37 per cent to 38,883 oz PGM respectively.

In addition, rises were recorded at Everest (up three per cent to 32,365 oz PGM), Mimosa (up 13 per cent to 43,638 oz PGM) and Platinum Mile (up 19 per cent to 5,983 oz PGM).

Commenting on the results, CEO Stuart Murray said: "Despite all the gloom in the sector, it is encouraging that the production turnaround we required has started to deliver, with increases in production and decreases in unit costs across most of our operations, despite the inflationary cost pressures experienced over the last two quarters in particular."

Aquarius Platinum is the world's fifth-largest producer of the precious metal, behind Anglo Platinum, Impala Platinum, Lonmin and Norilsk Nickel.



Source:

Aquarius Platinum First Quarter 2009 Financial & Production Results (28/10/08)
http://www.aquariusplatinum.com/aquarius_db/files/20081028%20AQP%20Q1%202009.pdf

Aquarius Platinum Posts Quarterly Loss After Metal Prices Fall (28/10/08)
http://www.bloomberg.com/apps/news?pid=20601116&sid=ar3EeYnjAoU4&refer=africa