Aquarius Platinum has restarted operations at its Everest mine, it was confirmed yesterday (17th May).

The facility, which is located on the eastern limb of the platinum-rich Bushveld Complex in South Africa, was originally closed down in December 2008 after a subsidence event.

However, the company announced that the concentrator plant has now been commissioned and milling has resumed, with the first concentrate shipped last week.

The target has been achieved three months ahead of schedule and Aquarius now plans to process 120,000 tonnes of ore in May and June, adding about 8,000 oz to its annual pgm production total.

"The restart of the mine has been delivered in a better pgm price environment than that originally anticipated when the restart was authorised," said Chief Executive Stuart Murray.

"We anticipate a fairly rapid ramp-up of production, as underground stoping is being complemented with opencast tons being mined from a reserve that was previously sterilised."

Mr Murray added that he expects production of 120,000 oz pgm 4E (platinum, palladium, rhodium and gold) to be achieved at Everest in the 2011 financial year.

The company then hopes this figure will rise to 180,000 oz in the 2012 financial year, with a steady-state production of 200,000 oz set as the longer-term target.

Aquarius Platinum is currently the world's fourth-largest producer of the precious metal.

Source:

Aquarius Platinum: Everest Mine Ships First Concentrate Following Restart (17/05/10)

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