Aquarius sees pgm production rise 28th July 2004

Aquarius Platinum has seen its production of pgms rise in its latest quarterly results, as output for the June quarter hit 64,539 oz.

The firm saw total production rise 2,306 oz from the previous quarter, with the Marikana Mine performing well.

Production at the site was up 13 per cent to 20,220 pgm oz, as the pgm basket price rose by four per cent to $682 per pgm oz.

Meanwhile, record throughput of 813,000 tons was recorded at the Kroondal Mine, while pgm production at the site was sustained at 59,830 ounces for the quarter, with concentrator plant recoveries improving by two per cent to 79 per cent.

At Mimosa pgm production stood at 28,807 oz for the quarter, while the pgm basket price of $558 per oz compared with $597 per oz in the previous quarter.

At Everest South Aquarius said upfront engineering work continues, with the project set to be “rapidly mobilised” in the fourth quarter.

Subject to the BEE transaction completion, it is anticipated that first production on the Everest South Mine - the company's third operation in South Africa - will begin in 2006.


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