JOHANNESBURG (miningweekly.com) – Mid-tier platinum-miner Aquarius would spend R250-million to prepare for reopening of its Everest mine, in South Africa, which was closed in December, the company reported on Tuesday.

In the first phase, Everest would spend R77-million to do a detailed design and project management for the reopening of the Everest mine over a six-month period.

This phase would include work on the north boxcut, storm water management, temporary and permanent services, access road, initial underground development and rock support.

The second phase of the project includes completion of the decline development, establishment of underground services and the reclamation of infrastructure, equipping of declines and strike sections, and re-establishment of stoping sections.

Permanent surface infrastructure, such as mine services and overland conveyers would also be completed during this phase. This preparation, coupled with early production from the open pit area, would enable ramp-up of underground production, with reef stockpiling prior to resumption of milling operations.

Aquarius said that the completion of the second phase and production ramp-up to process plant resumption would require about ten months.

However, the company noted that the decision to resume operations would depend on the prevailing metals prices and market conditions at the time.

Meanwhile, Aquarius also reported that Ridge Mining’s shareholders had voted “overwhelmingly” in favour of the acquisition of Ridge by Aquarius.

Aquarius CEO Stuart Murray said that it was ready to start the integration of the Ridge assets into the Aquarius stable, and have earmarked a multi-functional team to manage the process to ensure a smooth transition.

Ridge’s operating mine, Blue Ridge, which is currently in ramp-up mode, should immediately start contributing to the Aquarius group’s production profile. At the completion of the ramp-up phase, the Blue Ridge mine is expected to produce about 125 000 oz four elements platinum group metals a year, of which 50% of the production would be attributable to Aquarius.

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