We have interests in seven operations, firmly establishing our position as one of the world’s fastest growing platinum companies. Our operations are located on both the world-renowned Bushveld Complex in South Africa and the Great Dyke in Zimbabwe. We have an active exploration programme in and around these existing operations, with a focus on the eastern Bushveld Complex in particular.

Kroondal

Our primary operation, the Kroondal Mine, is one of the most efficient PGM producers in the world. The mine was conceived in 1996 and commenced production in August 1999. Located on the Western Limb of the Bushveld Complex, near Rustenburg, in North West Province of South Africa, it is Aquarius' largest mine. Kroondal exploits the UG2 Reef and comprises four operating decline sections - Kopaneng, Simunye, Bambanani and Kwezi which access the Kroondal and Townlands ore bodies. Kroondal also has two concentrator plants (K1 and K2) and has a combined capacity of 570,000 tonnes per month. Since 2003 Kroondal has partnered with Anglo American Platinum (Amplats) in a 50:50 pool and share agreement (P&SA1). Kroondal has an offtake agreement for the processing, smelting and refining of its concentrate with Amplats.

Marikana

Our second operation in South Africa, the Marikana Mine, was commissioned in late 2002. It lies 8km east of Kroondal, on the Western Limb of the Bushveld Complex, in North West Province, South Africa. Marikana mines the UG2 reef in the Marikana and 4 shaft ore bodies by means of underground operations accessed via the 4 and 5 shafts; 1 and 2 shafts are currently on care and maintenance. The open-cast operation was mined out in FY2011. The concentrator plant at Marikana has a monthly processing capacity of 220,000 tonnes. Since 2005 Marikana has partnered with Amplats in a 50:50 pool and share agreement (P&SA2). During FY2010, Aquarius acquired the assets of First Platinum (Pty) Ltd and Salene Mining (Pty) Ltd, known collectively as Firstplats, which are contiguous with Marikana and have been included in the P&SA2. Concentrate produced from mineral reserves contributed by Marikana is smelted, refined and marketed by Amplats and Impala Refining Services (IRS).

Everest

Our third mine in South Africa, the Everest Mine, is Aquarius' sole wholly owned operation. Construction commenced in October 2004 utilising the proceeds of our 2003 Black Economic Empowerment transaction with the Savannah Consortium. It was commissioned in November 2005. Everest is located on the eastern limb of the Bushveld Complex in the province of Mpumalanga, South Africa. The Everest operation comprises three decline shaft systems - North Decline: a belt, people and vehicle access way system and South Decline: a belt and people access way. The third access way, via the Valley Box Cut, was commissioned during FY2011 and will be used as a people and vehicle access way for the lower sections of the mine.  The concentrator plant at Everest currently has a monthly processing capacity of 250,000 tonnes. In FY2011 Aquarius entered into an agreement with the Northam Group to acquire PGMs and associated base metals mineral rights on farms adjacent to Everest, the area is known collectively as Booysendal South. The completion of this acquisition will allow for a more interlinked development plan for Everest overall which will enable an increased level of mining and the processing plant to operate at capacity.  Concentrate from Everest is smelted, refined and marketed by IRS.

Blue Ridge

In July 2009, we acquired effective control of Ridge Mining plc (Ridge). Blue Ridge is an underground mine accessed via two decline shafts, situated on the south-western extension of the eastern limb of the Bushveld Complex, in the province of Mpumalanga, South Africa. The mine ceased operations during FY2011 as a result of an insufficiently high prevailing Rand basket price to justify further capital expenditure. At the time of suspension of operations, the mine had reached a depth of 275m below surface.

Mimosa

In southern Zimbabwe, we hold a 50% interest in the Mimosa Mine. The mine is located on the Wedza sub-chamber of the southern portion of the Great Dyke in Zimbabwe. Mimosa is the lowest cost mining operation in the Aquarius portfolio, and is a relatively shallow underground operation (220m deep) accessed via a decline shaft, delivering ore to a surface concentrator with a monthly capacity of 185,000 tonnes.  The mine is overseen by joint venture partners Aquarius and Impala Platinum Holdings Limited (Implats). Mimosa has an offtake agreement with Centametal AG of Switzerland. In terms of this contract, concentrate produced by Mimosa is delivered to IRS in South Africa for processing and refining.

CTRP

The Chromite Tailings Retreatment Plant (CTRP) is located adjacent to the Kroondal mine. It is an innovative and environmentally sound operation that processes old mine dumps and current tailings from the beneficiation process used at neighbouring chromite mines. The CTRP is jointly owned by Aquarius (50%), which also manages the plant, GB Mining (25%) and Sylvania South Africa (25%).

Platinum Mile

In 2008, we acquired a 50% interest in Platinum Mile Resources (Pty) Ltd which operates a tailings retreatment facility located on Anglo Platinum’s Rustenburg Platinum Mine’s (RPM)se area, adjacent to the Kroondal Mine which processes certain tailings from RPM. The concentrate produced by Platinum Mile is sold to RPM with which it has a profit share arrangement. In FY2011 we consolidated our ownership of Platinum Mile, now holding 91.7%.

new aquisitions

In 2011, we further enhanced our strategic options by acquiring mineral rights through purchasing Afarak Platinum (Proprietary) Limited, and mineral rights on farms adjacent to Everest Mine, collectively known as Booysendal South. These acquisitions underpin the implementation of our strategy to grow our resource, reserve and future production base. Both potentially increase Aquarius' resource base by nearly 50%.

click to view the 2011 annual report