Commissioned in late 2002, ahead of schedule and under the budgeted capital cost of R630 million, the Marikana Platinum Mine is Aquarius Platinum’s second operating mine in South Africa.

LOCATION AND GEOLOGY

Marikana is located eight kilometres from the company’s flagship operation, Kroondal, with both situated on the Western Limb of the Bushveld Complex.

The orebody, which measures approximately 1.5 kilometres by 3 kilometres, is a basin-like structure which dips down toward the centre from all sides at an angle of between 10 and 20 degrees to a maximum depth of about 200 metres. The surface topography is flat with a gentle slope to the north.

MINING AND PROCESSING

Underground operations continued to ramp up during 2007 with production trebling to 708,000 tons, approximately 34% of overall production in Q4 FY 2007.


Average head grades remained steady through the year, as did plant recoveries. Underground shaft development has indicated an increase in the geological loss factor to approximately 40% for FY2007. The P&SA2 includes a DMS plant, commissioned in November 2006 and now operating at full capacity of 220,000 tpm. Open-pit operations will be capped as underground operations are maximised to optimise recoveries.