Due to unrest in Rustenburg, South Africa, Aquarius Platinum announced it has suspended operations at its Kroondal platinum mine until September 16.
Aquarius Platinum Mining News
Shares in Aquarius Platinum Ltd. (LON, ASX: AQP), the fourth- largest producer of the metal, dropped 11% this morning in Johannesburg, the deepest decline since October 2008, after the company announced that Zimbabwe has rejected a joint proposal with Impala Platinum Holdings Ltd. (PINK:IMPUY) to meet local ownership rules.
South Africa's Northam Platinum (NHMJ.J: Quote) said on Wednesday it would sell part of the mineral rights for its Booysendal property to Aquarius Platinum (AQP.L: Quote) for 1.2 billion rand ($180.6 million). Northam said Aquarius would buy the mineral rights attached to the southern part of Booysendal, which is adjacent to Aquarius' own Everest mine.
Aquarius Platinum (AQP.L: Quote), the world's fourth-largest primary platinum producer, said it would buy 74 percent of Afarak Platinum for $109.7 million to build up its reserves of the precious metal and cash in on rising prices. Spot platinum prices XPT= gained over 20 percent in 2010 and are expected to continue rising this year as risk aversion and low interest rates boost their allure.
Aquarius Platinum South Africa (Proprietary) Limited ("AQPSA") is pleased to announce that two of its operations have simultaneously achieved one million fatality-free shifts. The Everest Mine reached this milestone on 1 March 2011 for the first time since commencing operations in 2004, while the Kroondal Mine achieved it once again on 4 March 2011.
Output at Aquarius Platinum's Zimbabwe mining joint venture will reach capacity of 200,000 ounces in the year to end-June and there are no immediate expansion plans, the company said on Monday. Engineering and Mining Journal […]