Aquarius Platinum says Q4 output up 1 pct
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Aquarius Platinum says Q4 output up 1 pct UPDATED 31 Jul 2009 | 11:22  
Aquarius Platinum says Q4 output up 1 pct

JOHANNESBURG (Reuters) - Aquarius Platinum Ltd, the world's fourth-biggest producer of platinum, said on Friday fourth quarter attributable production rose 1 percent to 98,258 platinum group metal (PGM) ounces.

The South African-focused company said improvements in U.S. dollar commodity prices had been offset by a stronger South African rand/dollar exchange rate, but that on-mine margins were well maintained.

Chief Executive Stuart Murray said the company had completed the Wedza Phase 5.5 expansion project at Mimosa in Zimbabwe, while it was close to completing the expansion of its Platinum Mile mine.

During the quarter, Aquarius completed its acquisition of Ridge Mining Plc, and was now keen to integrate the company's operating mine, Blue Ridge Mine, which is currently in ramp-up mode.

At the completion of the ramp up-phase, the Blue Ridge Mine is expected to produce about 125,000 ounces a year of 4E PGM (platinum, palladium, rhodium and gold). Half of this output will be attributable to Aquarius.

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