Platinum miners loath to take lead on output cuts

Profit prospects are poor for South Africa's platinum miners as they collectively hold back from making the deep production cuts necessary to reduce a market surplus and force higher prices. They have felt some respite this year from the...

Aquarius posts interim loss, production down

ASX-, LSE- and JSE-listed Aquarius Platinum on Thursday posted a loss of $113-million, or 24.31 c a share, for the first half of its 2012 financial year. Aquarius CEO Stuart Murray attributed the negative result for the six months to December 31...

Aquarius CEO slams safety stoppages as output falls

World number-four platinum miner Aquarius Platinum CEO Stuart Murray has criticised the increasing number of safety stoppages in South Africa and said the country has become a “difficult place” to operate in. The ASX-, LSE- and JSE-listed...

Giant Vale ship unloads maiden iron ore cargo in China

China has received the first of Vale's giant iron ore vessels, industry sources said on Wednesday, a major breakthrough for the Brazilian miner after months of uncertainty over the fleet's access to the world's top steelmaker. Top iron ore...

Aquarius swings to loss on adverse forex moves, weaker output

ASX-, LSE- and JSE-listed Aquarius Platinum on Thursday reported a quarterly loss owing to adverse foreign exchange moves and lower precious metals production as a result of operational problems. The company posted a loss of $91.8-million in the...

Production resumes at Aquarius Platinum’s Everest mine

JSE-listed Aquarius Platinum on Wednesday said that production at its Everest mine had resumed, following industrial action. Members of the Association of Mining and Construction Unions (AMCU) employed by contractor Murray & Roberts Cementation...

South African miners having to meet 2011 costs on 2007 prices: Aquarius Platinum

The Beatles’ song Lucy in the Sky with Diamonds heralded Aquarius Platinum’s presentation of results for the 12 months to June 30, but a more appropriate melody may have been Singing the Blues.

Aquarius takes $160m Blue Ridge impairment, 'ambles' forward

The ASX-, LSE- and JSE-listed platinum miner Aquarius Platinum has taken a $160-million impairment knock on its currency-hit Blue Ridge Platinum Mine and has also closed. The Blue Ridge impairment and also the Marikana Shaft One closure marred...

Aquarius boosts Q4 output 3%, but SA volumes fell short

he world’s fourth-largest platinum miner Aquarius Platinum increased its attributable production by 3% year-on-year to 114 260 platinum group metal (PGM) ounces, but CEO Stuart Murray said on Tuesday volumes from South African operations fell...

Aquarius suspends Blue Ridge funding, ups stake in tailings operation

Midtier platinum miner Aquarius has suspended funding for the jointly-owned Blue Ridge platinum mine, because of low platinum-group metals (PGMs) rand prices, the ASX-, LSE- and JSE-listed company announced on Wednesday. The suspension of the...

Everest mine, South Africa

An Aquarius Platinum-controlled mine situated in Mpumalanga.

Aquarius to pay Northam R1,2bn for Booysendal South mineral rights

Platinum miner Aquarius has agreed to pay Northam Platinum R1,2-billion to acquire mineral rights on farms adjacent to the Everest mine, on the eastern limb of the Bushveld complex, potentially adding 22 years to the mine’s life. Aquarius,...