Aquarius Platinum's platinum group metals production increasing on 25 per cent
Australian company Aquarius Platinum said yesterday that platinum group metals production increasing on 25 per cent in comparison with the same time last year, in spite of difficult operating conditions at one of its South African mines.
Aquarius produced 62,223 ounces of PGMs in the three months ending March 31 2004, gaining the profit of the first three quarters of the year to 145,097 ounces.
Aquarius Platinum is aiming to expand rapidly and produce 600,000 ounces of PGMs a year by 2006.
Third-quarter production at Kroondal, Aquarius's core South African mine, was stable at 60,032 ounces.
But the group has recently faced the problems at its nearby Marikana mine. Mining at the open-pit site was interrupted during February and March by heavy rainfall.