PERTH (miningweekly.com) – Platinum producer Aquarius has restarted milling operations at its Everest mine, in South Africa, and has shipped the first concentrate from the operation three months ahead of schedule, the company reported on Monday.

About 120 000 t of ore would be processed at Everest during May and June, contributing 8 000 oz of platinum group metals (PGMs) to the company’s attributable production for the financial year ended June.

Aquarius said that the capital cost for the restart of the mine, which was closed in late 2008, had amounted to R259-million, of which around R170-million has been spent to date.

“We are very pleased with the progress at Everest. Following the closure of the mine in December 2008 owing to the subsidence event, the restart of the mine has been delivered ahead of schedule and within budget, and in a better PGM price environment than that originally anticipated when the restart was authorised,” said Aquarius CEO Stuart Murray.

Murray added that Aquarius anticipated a fairly rapid ramp-up of production, as underground stoping was being complemented with opencast tons mined from a reserve, which was previously classified as sterilised.

“We expect Everest to be producing about 120 000 oz PGM in the 2011 financial year, about 180 000 oz in the 2012 financial year, and reaching steady-state production of 200 000 oz beyond that,” he added.

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