Aquarius Platinum revealed yesterday (1st July) that it could be up to a year before full pgm production can resume at its Everest mine.

The facility, located on the eastern limb of the Bushveld Complex in South Africa, was closed last December after subsidence occurred following a torrential downpour in the region.

However, the world's fourth-largest platinum producer has now confirmed that it will not return to full operating capacity until market conditions improve and it has completed its acquisition of Ridge Mining.

"The Ridge ramp up will be the focus ... and only then will we really turn our full attention to Everest," a spokesman for the company told Reuters.

"One might presume it will take a year to complete the ramp up at Ridge and that will take us through to Everest."

Although Aquarius is stopping short of devising a particular date for full production to resume, the firm is "satisfied" with its output so far in the fourth quarter of the financial year.

"We've been quite happy with the production we've achieved in the first two months of the fourth quarter," added the spokesman.

A total of 157,995 oz pgm were produced at Everest over the course of 2008.

Source:

UPDATE 1-Aquarius Platinum: Everest restart not a priority (01/07/09)

Everest platinum mine restart more than a year away - Aquarius (02/07/09)

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