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Aquarius strikes South African alliance

THE entrepreneurial skills of Perth-based Aquarius Platinum Limited have been aptly demonstrated with the establishment of an alliance to more than double platinum base metals production in South Africa.

Negotiating on behalf of Kroondal Platinum Mines Limited (KPM), Aquarius has completed a joint venture agreement between Aquarius, KPM and Rustenburg Platinum Mines Limited (RPM), a wholly-owned subsidiary of Anglo American Platinum Corporation Limited, to expand the Kroondal mine from a capacity of 170,000 ounces platinum group metals (100,000 oz platinum) to 510,000 oz of PGM (300,000 oz of platinum) per annum.

This will be achieved by expanding the existing KPM concentrator to a production level of 255,000 oz PGM per annum, and constructing an additional concentrator on site with the same capacity. The capital required for the Kroondal expansion programme and the joint venture mine is estimated to be R514 million.

Construction of the KPM expansion will begin almost immediately, along with the development of the new mine and concentrator.

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