Aquarius Platinum CEO resigns

departure.
“The company has accepted the resignation of Mr Stuart Murray as CEO of Aquarius Platinum Limited and chairman of its principal subsidiary Aquarius Platinum (South Africa) (Pty) Ltd with effect from 5 October 2012,” said the company in a statement.
Prior to his resignation Mr Murray sat on the boards of Mimosa Investments Limited (the group’s Zimbabwean subsidiary), Platinum Mile Resources (Pty) Ltd, the group’s 50 percent-owned tailings retreatment company, and Aquarius Platinum (SA) Corporate Services (Proprietary) Limited, the owner of 50 percent of the Chrome Tailings Retreatment Plant.
Aquarius said Mr Murray has also terminated his directorships in all other group companies with immediate effect. However, his employment with both AQP and AQPSA will continue until March 31, 2013 during which period he will provide whatever assistance is required to effect an orderly handover.
Mr Murray joined Aquarius Platinum Limited in May 2001 and was appointed CEO in September 2001.
The company said a replacement for Mr Murray, who was also chairperson of the miner’s principal South African subsidiary, will be considered “in due course”.
In the interim Ms Jean Nel has been appointed chief operating officer of AQP and Zwelakhe Mankazana has been appointed interim non-executive chairperson of Aquarius’ principal subsidiary‚ AQPSA.
In South Africa, Aquarius has been hit along with the rest of the mining sector by labour unrest and soaring costs. It was forced to temporarily suspend operations at its Kroondal mine last month.
In August the platinum producer reported a full-year loss for the 12 months ended June 30. However, Mimosa achieved record production last year due to improved volumes mined, better grades and higher rates of recovery.