Platinum producer Aquarius Platinum is on track to deliver its
annual target of 600 000 platinum-group metal (PGM) ounces, a third
up on last year’s production, said company CEO Stuart Murray
in the company’s first-quarter report.
The company, which recently received its new-order mining rights
for Kroondal, Marikana and Everest, has experienced breaking
production and earnings records for this quarter.
“The production achievement at Kroondal has helped drive
group performance to record output, and quarterly earnings. The
Mimosa expansion is delivering new lowcost ounces and work at
Everest and Marikana continues, with those ramp-ups adding to the
bottom line,” said Murray.
Kroondal
Aquarius reported that the Pool and Share Agreement 1 (P&SA1)
at Kroondal reached a new production record at 121 713 PGM ounces
during the quarter, of which 15 432 PGM cement industry production department vacanciesounces is attributable to
Aquarius.
Underground production increased 24% thanks to increased
development in past quarters, which improved stope face
availability. Meanwhile, openpit production also increased
threefold from 46 000 t to over 145 000 t.
The additional tonnage came from a new pit at the Klipfontein
section, which will supplement tonnages for six months while
underground operations ramp up to full production.
Increased volumes brought about a decrease in operating cost of 7%
and further cost reductions are anticipated once development
reacheslaboratories for crush resistance of silica sand a steady state and grade improvement is achieved.
Aquarius also reported on the new K5 shaft project, commenting that
the reef had been intersected ahead of schedule. Reef development
of 65 m was completed, providing a surface stockpile of 2 500
t.
Meanwhile, surface construction for the shaft has also progressed
and the sewage plant, industrial change-house, substation, settling
dams and clear water dams have been completed. The Dip 1 and Silo
Feed conveyors have also been completed and commissioned and the
company reported good progress on the Dip 2 and 3 conveyors.
what are the diffrent sizes of limestone
Some R51,3-million of the R131,1-million control budget for the K5
project has been spent to date.
Marikana
Underground production at the P&SA2 at Aquarius’s
Marikana operation increased 55% to 170 435 t, while openpit
production increased 17% to 339 540 t.
The operation produced a record 445 462 run-of-mine tons during the
quarter, including 140 733 t from underground. In total, the
operation produced 30 865 PGM ounces during the quarter.
The company commented that the No 1 and No 4 shafts are on target
as is the construction of a densemedia separation plant. The
commissioning of the plant, scheduled for the second quarter, is
set to increase total plant capacity, though the amount of this
increase was not stipulated.
The first quarter report said that more than R45-million had been
spent during the quarter on expansion capital expenditure.
Everest
At Aquarius’s Everest platinum mine, which is undergoing
operational ramp-up, labour disruptions during the quarter led to a
marginally lower production of 41 717 PGM ounces.
The report said that the resolution of the wage dispute has
improved overall industrial relations following a wage agreement
between union representatives and the underground
contractors.
It commented that, although this production is from a higher mining
base, it compares unfavourably with the previous quarter when
stockpile tons were also consumed.
While opencast production remained steady at 289 681 t,
Everest’s underground production has established a primary
source of ore increasing from 41% to reach 323 426 t, exceeding
opencast production for the first time.
Mimosa
The Mimosa operation in Zim-babwe, in which Aquarius holds a 50%
share, saw the completion of its mining expansion project and an
underground production increase of 8% to 487 538 t.
Total production increased 14% to 42 733 PGM ounces with 21 367 PGM
ounces attributable to Aquarius, while processed tons increased by
16% and concentrator plant recoveries decreased marginally from
78,4% to 78%.
The report also highlighted the Wedza Phase IV optimisation work
that is in progress and is delivering new low-cost
production.
Chromite tailings retreatment plant (CTRP)
Meanwhile, the CTRP reported production of 1 711 PGM ounces for the
quarter. Of this, some 855 PGM ounces are attributable to Aquarius
Platinum, which holds a 50% stake in the operation.
The report said that processing at the CTRP decreased 17% owing to
lower feed supplied by the Kroondal chrome mine. Feed from the
chrome mine was reduced during the last quarter owing to more
oxidised material processed during September, leading to an adverse
recovery effect.
Despite the production and processing decreases, September saw the
commissioning of the dump material project at the operations, which
it anticipates will increase production.
On the safety side, Aquarius reported improved disabling injury
incidence rates at its Mimosa and Marikana mines during the
quarter. However, a behaviour-based safety campaign has been
implemented at Kroondal for longer-term sustainable safety results
and actions have been implemented to improve safety on its Everest
mine following the death of an underground team leader in August.