adminplatinum, palladium, rhodium and gold.
In a statement, Aquarius said PGMs output for the period under review dipped 1 percent compared to total mined in the same period last year where 52 053 ounces were produced.
It said Mimosa, jointly owned with Impala Platinum, managed to maintain production at above budget levels while unit costs declined by 3 percent.
Meanwhile, Aquarius’ Kroondal Mine in South Africa, jointly owned with Anglo American Platinum, year on year PGMs production increased by 37 percent.
Its total output was 105 027 ounces of PGMs, marking the first time since the December quarter in 2011 that the mine topped 105 000 ounces of production.
Aquarius chief executive officer Jean Nel expressed satisfaction with production results for the quarter.
“During the quarter under review, Aquarius’ focus remained almost exclusively on improving operational performance. It is therefore particularly pleasing to report credible performances at both Kroondal and Mimosa,” he said.
Attributable production from operating mines increased by 20 percent to 81 4714 ounces compared to their performance in the previous corresponding period
Revenue decreased by 20 percent to US$100 million due to mine closures.
Care and Maintenance
Aquarius also owns the Everest and Marikana mines in South Africa which have been put under care and maintenance because of weak market conditions and labour problems respectively.
Demand for platinum has dipped over the years as effects of the global financial recession took hold on leading automobile industries that either closed shop or cut back on operations.
Platinum and its sister metal palladium are mostly used in motor vehicle catalytic converters and in jewellery manufacturing. — New Ziana.
Online Reporter