{"id":11333,"date":"2012-06-11T11:07:38","date_gmt":"2012-06-11T09:07:38","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-aquarius-platinum-suspends-some-marikana-ops\/"},"modified":"2012-06-11T11:07:38","modified_gmt":"2012-06-11T09:07:38","slug":"update-1-aquarius-platinum-suspends-some-marikana-ops","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-aquarius-platinum-suspends-some-marikana-ops\/","title":{"rendered":"UPDATE 1-Aquarius Platinum suspends some Marikana ops"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">June 11<\/span> (Reuters) &#8211; Aquarius Platinum said it would<br \/>\nsuspend operations at its Marikana operations in South Africa,<br \/>\nciting low platinum prices, and said trading conditions in the<br \/>\nindustry were expected to remain difficult in the short to<br \/>\nmedium term.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Aquarius Platinum, the world&#8217;s fourth-largest primary<br \/>\nplatinum producer, said it wanted to preserve the ore reserves<br \/>\nat the mine until extraction was economically feasible.<\/p>\n<p><span><\/span><\/p>\n<p>The Marikana 4 shaft and the Marikana concentrator plant<br \/>\nwould be placed on care and maintenance, the company said.<\/p>\n<p><span><\/span><\/p>\n<p>The management functions at the Marikana pooling and sharing<br \/>\nagreement (PSA2), an agreement between the company and Anglo<br \/>\nPlatinum, would be consolidated with those of the PSA1 at<br \/>\nKroondal.<\/p>\n<p><span><\/span><\/p>\n<p>The platinum mining industry has been hit by rising costs<br \/>\nand falling prices amid weaker demand, with the spot platinum<br \/>\nprice falling about 15 percent in the last three months.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The macro is unlikely to improve materially in the<br \/>\nshort-term until there are significant supply cuts from the<br \/>\nmajors, especially Anglo and Impala,&#8221; Numis Securities&#8217; Andy<br \/>\nDavidson said.<\/p>\n<p><span><\/span><\/p>\n<p>Aquarius Platinum shares were up 2 percent at 75 pence at<br \/>\n0715 GMT on Monday on the London Stock Exchange.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>June 11 (Reuters) &#8211; Aquarius Platinum said it would suspend operations at its Marikana operations in South Africa, citing low platinum prices, and said trading conditions in the industry were expected to remain difficult in the short to medium term. Aquarius Platinum, the world&#8217;s fourth-largest primary platinum producer, said it wanted to preserve the ore [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11333","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11333"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11333\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}