Aquarius Platinum's operations reach record levels in fourth quarter

28th Jul 2015 11:42

(ShareCast News) - Platinum group metals producer Aquarius Platinum reported "record levels" of production from its main operations in Africa in the fourth quarter.The London-listed company said production at its Mimosa mine Zimbabwe and at the Kroondal mine in South Africa totalled 88,803 ounces in the three months to 30 June, a 5% quarter-on-quarter and a 6% increase year-on-year."The fourth quarter was characterised by a particularly good performance from both Aquarius operating mines," said group chief executive Jean Nel.However, both mines reported a 5% decline in platinum group metal prices from the previous three months, while cash cost were flat in Zimbabwe but fell 4% in South Africa.Nel said the decline in metal prices will require an increased focus on safety, cost and production discipline and a focused assessment of the viability of each shaft at each operating mine.Meanwhile, the group added it has received $33m from the sale of its Everest mine in South Africa, which was bought by Northam Platinum.Aquarius shares were up 1.90% to 6.29p at 1115 BST on Tuesday.