Johannesburg, South Africa — 26 June 2013 – Aquarius Platinum Limited has announced that it has reached agreement with Anglo American Platinum Limited (Amplats) to extend their pool and share arrangement for the Kroondal mine.
This means that the life of the Kroondal mine will be extended by three years from 6.5 to 9.5 years.
A statement issued here by Aquarius says that Amplats will contribute 9.91Mt at 2.38g.t of proven ore reserves and 6.06Mt at 2.48g/t of probable ore reserves to Kroondal. The reserves will be mined from existing Kroondal underground mining infrastructure and treatment plants.
In exchange, Aquarius will contribute the use of its infrastructure; continued management of the PSA on existing terms and conditions; the sale of the Aquarius share of concentrate produced from the additional reserves; and payment of a variable royalty with a base rate of R11.50 per tonne mined, the statement added.
Source: Aquarius Platinum Limited. For more information, click here.