Aquarius Platinum has revealed that platinum production fell to 109,863 oz in the latest quarter.

Annual production estimates are still in line with production results and the company hopes to produce 500,203 oz by the end of the year.

Stuart Murray, Chief Executive of the firm, said that production was affected by industrial issues at the firm's mining projects.

"This situation necessitated significant intervention and activism by management," he explained.

A total of 83,062 oz of platinum was produced at the Kroondal project, a decrease of 17 per cent compared to the same quarter last year.

However, production increased at Marikana by 17 per cent while the Everest project saw an increase of one per cent.

The firm said that a change in the open pit mining methods at the Marikana project more than doubled production.

The firm also announced that the completion of buyback stakes in Aquarius Platinum that had been owned by Impala Platinum created significant value.



Source:

Aquarius Platinum Fourth Quarter 2008 Production Results, 24/07/08
http://www.aquariusplatinum.com/aquarius_db/files/AQP%20Q4%202008%20FINAL.pdf

Aquarius Platinum says Q4 output fell marginally, 24/07/08
http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSL2491041920080724