Jan 28 Aquarius Platinum Ltd, the
world's fourth-largest platinum miner, reported a 7 percent rise
in second-quarter output attributable to the company, despite
higher cash costs at its key Kroondal mine in South Africa and a
continued dip in platinum prices.
The miner, which operates in South Africa's platinum belt
that is prone to labour unrest, said attributable output rose to
84,528 ounces in the three months ended Dec. 31 from 78,987
ounces a year earlier.
Production attributable to Aquarius from its main operation
at Kroondal, a venture with Anglo American Platinum in
the northwest province of South Africa - rose to 55,152 ounces
from 51,262 ounces.
However, cash costs at Kroondal rose 2 percent while prices
of platinum group metals fall 9 percent from a year earlier.
Aquarius also said proposed tax changes and regulatory
uncertainty in Zimbabwe had impacted its ability to plan future
production levels and capital allocation for its Mimosa mine in
Miners in Zimbabwe have felt the heat from President Robert
Mugabe's controversial "indigenisation" policy, which seeks to
give local blacks majority stakes in foreign firms operating in