AQP
AQP
AQP - Aquarius Platinum Limited - Marikana commentary
Aquarius Platinum Limited
(Incorporated in Bermuda)
Registration Number: EC26290
Share Code JSE: AQP
ISIN Code: BMG0440M1284
MARIKANA COMMENTARY
Aquarius Platinum Limited advises that the partners in the Marikana Pooling &
Sharing Agreement ("P&SA2") have agreed in principle to place the P&SA2
operations on care and maintenance, due to the enduring low PGM basket price
environment. This decision has been made in the interests of preserving the
P&SA2 ore reserves until an improved economic climate merits their extraction
in the future.
As a result, Marikana 4 Shaft and the Marikana concentrator plant will be
placed on care and maintenance, and the remaining management functions at
P&SA2 will be consolidated with those of the P&SA1 at Kroondal. Preparations
for these events have been initiated, and the required consultative processes
will commence today.
Trading conditions in the platinum industry are expected to remain difficult
in the short to medium term and these conditions have rendered the operations
at the P&SA2 uneconomic.
Further updates will be released as appropriate.
For further information please contact:
In the United Kingdom
Gavin Mackay
+44 7909 547 042
In Australia: In South Africa:
Willi Boehm Stuart Murray
Aquarius Platinum Corporate Services +27 (0) 12 001 2001
+61 8 9367 5211
11 June 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 11/06/2012 07:48:01 Produced by the JSE SENS Department.
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