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...

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 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,...

Aquarius increases output by 24%

Platinum miner Aquarius Platinum on Friday reported a 24% increase in production from its South African operations for the quarter ended March. The miner said that during the third quarter ended March, attributable production increased to 118 877...

Aquarius reports higher Q3 earnings amid cost, holiday pressures

JSE-listed Aquarius Platinum recorded a 4% decrease in quarter-on-quarter production to 122 213 platinum-group metals (PGMs) ounces from 127 579 PGM ounces in December 2010. However, attributable production rose 18% from a year earlier. Aquarius...

Aquarius profit jumps on higher production, prices

Midtier platinum-miner Aquarius on Thursday reported significantly higher net profit of $94,3 million for its half-year ended December 2010 – 23 times more than the corresponding period in the prior year. Aquarius said that revenue jumped 63%...

Aquarius shuts shaft, mulls Zimbabwe listing, ups safety

Platinum miner Aquarius is closing the No 1 shaft at its Marikana platinum mine in North West province; it is considering a listing on the Zimbabwe stock exchange for its half-owned Mimosa mine; and it is implementing an advanced technology-backed...

Aquarius Platinum targets 530 000 oz in FY2011

Midtier platinum-miner Aquarius Platinum, which swung from a loss to a net profit of $27,8-million in the 2010 financial year, plans to increase its attributable platinum-group metals (PGMs) output by 25% to 530 000 oz in the 2011 financial year....