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

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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