South African platinum miner Aquarius Platinum has announced a 27 per cent increase in output of pgms for the quarter.

Production of pgms reached a record high of 120,105 ounces in the three months leading up to March, compared with 94,557 for the previous quarter.

It brought the year's attributable production to 318, 531 pgm ounces.

The record production figures were almost entirely driven by the ramp up of production at its Everest mine, where production rocketed from 7,111 ounces last quarter to 46,081 for the three months up to March.

"The group has achieved record quarterly production, notably with the new Everest mine contribution, at a time of good platinum group metal basket prices, to deliver a significant net profit," said the company's chief executive, Stuart Murray.

The company also said that average pgm prices had seen a nine per cent rise from its South African operations during the period and a 13 per cent rise at its Zimbabwe operations.

Mr Murray added: "I believe that this performance is satisfactory, notwithstanding certain operational difficulties that we encountered at both at Kroondal and Marikana. Whilst rain is always welcome in Africa, for open pit miners like Aquarius at Marikana, the abnormally high rainfall during the quarter has hurt production."

Ÿ Adfero Ltd