Johannesburg, South Africa — MININGREVIEW.COM — 31 July 2009 – Aquarius Platinum Limited “’ the world’s fourth-biggest producer of platinum “’ has announced that fourth quarter attributable production for its 2009 financial year rose 1% to 98 258 platinum group metal (PGM) ounces.
Reuters reports from here that the South African-focused company said improvements in United States dollar commodity prices had been offset by a stronger South African rand/dollar exchange rate, but that on-mine margins had been well maintained.
Chief executive Stuart Murray also revealed that the company had completed the Wedza Phase 5.5 expansion project at Mimosa in Zimbabwe, and that it was close to completing the expansion of its Platinum Mile mine.
During the quarter, Aquarius completed its acquisition of Ridge Mining Plc, and was now keen to integrate the company’s operating mine, Blue Ridge Mine, which is currently in ramp-up mode.
The company said that at the completion of the ramp up-phase, the Blue Ridge Mine was expected to produce about 125 000 ounces a year of 4E PGM (platinum, palladium, rhodium and gold). Half of this output would be attributable to Aquarius.