Aquarius Platinum Leaps into the Black

Aquarius Platinum CEO Stuart Murray is a happy man with the company going from a loss in 2009 to a net profit of $27.8 million in the financial year 2010. Revenue increased by 52% to $472.2 million and the mine operating net cash flow increased six times to $94 million.

The company also plans to increase its attributable platinum group metals (PGMs) output by 25% in the next financial year.

The total attributable PGMs will be increased to 530,000 ounces in 2011. Of this the Marikana mine would produce 80,000 ounces and the Kroondal mine 230,000 ounces.

While the Everest mine would provide 120,000 ounces and the Mimosa mine in Zimbabwe would give 100,000 ounces. The Everest mine which was closed in December 2009 has been successfully restarted as per Mr. Murray.

95 % of the re-establishment project will be complete by the end of the year. This would include establishment of permanent underground services, reclamation of infrastructure and equipping of declines and strike sections.

Aquarius Platinum is the world’s fourth largest primary platinum producer with operations located on both the Bushveld Complex in South Africa and the Great Dyke in Zimbabwe.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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