Aquarius, Anglo agree on platinium share-deal

LONDON – South African platinum miner Aquarius Platinum announced a second pool-and-share deal with the world’s top producer Anglo Platinum and also unveiled a 33 per cent jump in fourth-quarter output.

London-listed Aquarius said yesterday it and Angloplat, majority owned by Anglo American, would pool certain assets at its Marikana mine and share equally in the benefits. The two companies already have a similar arrangement at the nearby Kroondal mine.Aquarius said its share of production across all operations in South Africa and Zimbabwe rose 33 per cent quarter-on-quarter to 103,834 ounces.For the full year to end-June output was up seven per cent to 327,669 ounces.Production at Marikana, which has been plagued by difficulties after using an open-cast mining technique, rose two per cent in the quarter to 26,940 ounces and 99,161 ounces for the full year.This resulted in a 14 per cent increase.-Nampa-ReutersThe two companies already have a similar arrangement at the nearby Kroondal mine.Aquarius said its share of production across all operations in South Africa and Zimbabwe rose 33 per cent quarter-on-quarter to 103,834 ounces.For the full year to end-June output was up seven per cent to 327,669 ounces.Production at Marikana, which has been plagued by difficulties after using an open-cast mining technique, rose two per cent in the quarter to 26,940 ounces and 99,161 ounces for the full year.This resulted in a 14 per cent increase.-Nampa-Reuters