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Aquarius suspends operations at Everest

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Johannesburg, South Africa — MININGREVIEW.COM — 09 December 2008 – Focused platinum group metals producer Aquarius Platinum Limited – listed in London, Johannesburg and Australia – has suspended operations at its Everest mine for at least one week due to geotechnical problems.

“Instability has developed in the main decline into the mine – in part attributed to a shear zone above the decline – a feature of the geology at Everest,” the company said in a statement here.

“Our rock engineering specialists are currently assessing the situation,” it added, and it is expected that the suspension of operations will be for at least one week.”

Spokesperson Nick Bias said the shear zone was a feature of the geology at Everest, and the instability had developed after heavy rains in the region. It was hoped that an update would be released before the end of the week, he added.