AQUARIUS PLATINUM LIMITED: Second Quarter 2013 Production Results

AQUARIUS PLATINUM LIMITED: Second Quarter 2013 Production Results
AQUARIUS PLATINUM LIMITED                            
                       Aquarius Platinum Limited                            

                    Production Results to 31 December 2012                     


 * Attributable production from operating mines increased by 2% quarter-on-
   to 78,987 4E ounces

 * Average PGM basket price increased 5% for the quarter in Dollar terms

 * The Rand weakened against the US Dollar by 4% on average quarter-on-quarter

 * Transition to owner operator completed during the quarter and below budget

 * Rollout of revised hanging wall system completed during the quarter

 * Cash costs at Kroondal decreased 7% to R8,403 per PGM ounce quarter-on-

 * Cash costs at Mimosa increased 8% to $897 per PGM ounce quarter-on-quarter

 * Mimosa and Government of Zimbabwe agreed commercial terms on Indigenisation 
   signed a term sheet
                      Q2 2013 Operating Results  
                    Kroondal Mimosa Platinum Mile

4E PGM Production                                 
 Total (100% basis)  102,525 52,752         1,349 

       Attributable   51,262 26,376         1,349

4E Basket Price                                   

               R/oz   10,901      -        10,939
               $/oz    1,261  1,213         1,269

Cash Costs (4E                                   

               R/oz    8,403      -         7,688
               $/oz      972    897           892

Cash Margin (%)           10     16            13 

               R/oz    1,520      -             -
               $/oz      130    171             -

Commenting on the results, Jean Nel, CEO Aquarius Platinum said:

The quarter under review was yet another challenging quarter during which
industrial relations in South Africa remained strained and metal prices
remained low. The Aquarius management team persisted with its focus on
restoring operational credibility at its Kroondal mine. In this regard I am
very pleased to report that both of the significant processes we committed to
were completed in time and below budget, being the migration to owner operator
and the implementation of the revised hanging wall support regime. The
implementation of these two initiatives, combined with a focussed and motivated
work force at Kroondal contributed to Kroondal's production exceeding 100 000
4E ounces for the quarter for the first time since the Dec 2010 quarter,
notably at reduced on mine unit costs, down 7% for the quarter. Given the macro
environment in the industry this was a pleasing performance. A special mention
should go to Rob Schroder (MD: AQPSA) and Wessel Phumo (GM: Kroondal) who lead
the AQPSA team.

At Mimosa the solid production performance continued, but Mimosa's costs during
the quarter disappointed. Mimosa management team is focussed on addressing
costs having implemented a number of initiatives. The conclusion of the
indigenisation agreement between Mimosa and the Government of Zimbabwe was
particularly pleasing and Winston Chitando (MD: Mimosa) played a pivotal role
in this regard.

The satisfactory operational improvements notwithstanding, Aquarius remains
acutely aware that despite the improvements, the company continued to consume
cash during the quarter. The price improvements and the weakened R/$ exchange
rate in January 2013 combined with the fact that the once-off costs associated
with the two aforementioned processes have been completed, is expected to
substantially reduce cash consumption and enable to company to start producing
cash at mine level.

From a PGM supply and demand perspective there seems to be consensus that both
platinum and palladium will move into primary supply deficit during 2013.
Whilst encouraging the increase in recycling, the continued depressed demand
from the auto producers and the substantial above ground inventories renders
significant further price increases unlikely.

Fact remains that despite the significant operational improvements, cash
generation at current spot prices remains constrained. It is against this
backdrop that management continues to focus on cash preservation and
operational stability and improvements. The Company is also focused on playing
a positive role in terms of improving relations with the South African and
Zimbabwean regulators. Ensuring all stakeholders appreciate what is required
for a sustainable industry in future is critical and work in this regard

Production by mine

                                     Quarter ended                        
PGMs (4E)                                                                      
               Dec 2012    Sept 2012    % Change    Dec 2011    % Change   
Kroondal              102,525       92,073          11      86,796          18 
Mimosa                 52,752       56,341         (6)      50,456           5 
Platinum Mile           1,349        3,270        (59)       3,328        (59) 
Marikana                    -            -           -      28,809           - 
Everest                     -            -           -      18,712           - 
CTRP                        -          644       (100)       1,117           - 
Total                 156,626      152,328           3     189,218        (17) 
Production by mine attributable to Aquarius (Operating mines) 
                                     Quarter ended                        
PGMs (4E)                                                                      
               Dec 2012    Sept 2012    % Change    Dec 2011    % Change   
Kroondal               51,262       46,037          11      43,398          18 
Mimosa                 26,376       28,171         (6)      25,228           5 
Platinum Mile           1,349        3,270        (59)       3,328        (59) 

            Total      78,987       77,478           2      71,954          10

Aquarius Group quarterly attributable production (PGM ounces) to 31 December 

[Please refer to for graph]

Market Summary

At the beginning of the quarter the PGM Rand basket price continued to rise as
persistent illegal strikes triggered concerns for both future supply of PGMs
and how it will impact the overall South African economy. The pessimism on
supply did not last long as the basket price peaked at R12,398 per oz in
mid-October (from a trough R9,525 per oz in mid-August) at which point the US$
dollar metal prices began to retreat; by the end of October, platinum and
palladium were both trading at two-month lows. In November, following the
conclusion of the US Presidential elections and the anticipation of a continued
expansionary monetary policy, commodity prices strengthened. PGM prices were
further supported by the publication of Johnson Matthey's Platinum 2012 Interim
Review highlighting a global deficit in platinum as a result of reduced supply
from South Africa and a decline in open-loop recycling. However, resolutions to
illegal strike activity in the region, together with negative news surrounding
the euro zone economy and investor nervousness over the US 'fiscal cliff' at
the end of the period weighed on PGM prices and resulted in a disappointing end
to a difficult quarter.

The average platinum price increased by 6.6%, while palladium increased by 6.7%
and rhodium decreased by 3.1% quarter on quarter. Gold rallied by 3.9% on
average. Platinum closed the quarter down 8.5% at $1,539 per ounce, while
palladium rose by 9.1% to $703 per ounce and rhodium fell by 1.8% to $1,080
over the same period. Gold fell 5.9% to $1,675 per ounce.

Rand-Dollar exchange rate

The average Rand-Dollar exchange rate weakened during the quarter, falling by
4% from R8.28 to R8.65 to the US dollar.  Since then, it has traded in a narrow
range to average 8.62 in the first two weeks of January.

The average Rand basket price for the quarter increased by 10%
quarter-on-quarter, and the spot price by 2% over the period. The US Dollar
weighted average group basket price increased by 5% to $1,245 per 4E PGM ounce
compared to the previous quarter. due to Rand weakness. The average South
African basket price at AQPSA's operations was R10,769 per PGM ounce for the
period. Subsequent to the end of the quarter, the PGM basket price has
consolidated to average R10,788 per PGM ounce for the first two weeks of

[Please refer to for graphs]

Average PGM basket prices achieved at Aquarius operations

                                         Quarter ended                  
US$ per PGM ounce (4E)                                                       
                       Dec 2012   Sept 2012  % Change  Dec 11  % Change  
Kroondal                     1,261      1,195        6       1,262    (0)    
Marikana                       -          -          -       1,277   (100)   
Everest                        -          -          -       1,259   (100)   
Mimosa                       1,213      1,148        6       1,303    (7)    
CTRP                           -        1,338      (100)     1,296   (100)   
Platinum Mile                1,269      1,272        -       1,208     5     
Weighted Avg.                1,245      1,182        5       1,272    (2)    


Operating Review Summary (all numbers on 100% basis)


P&SA 1 at Kroondal (Aquarius Platinum - 50%)

 * 12-month rolling average DIIR improved to 1.39 per 200,000 man hours from 
   in the previous quarter

 * Production increased to 1,727,000 tonnes from 1,410,000 tonnes

 * Head grade deteriorated from 2.51 g/t to 2.41 g/t

 * Recoveries deteriorated by 1% to 79%

 * Volumes processed increased to 1,669,000 tonnes

 * Stockpiles at the end of the quarter totalled approximately 75,000 tonnes

 * PGM production increased by 11% to 102,525 PGM ounces

 * Revenue increased by 13% to R956 million quarter-on-quarter due to improved
   production and an increase in the 4E Basket Price

 * Mining cash costs decreased by 11% to R516 per tonne, due to improved

 * Unit cost per PGM ounce reduced 7% to R8,403 per PGM ounce due to improved

 * Kroondal's cash margin for the period improved from 2% to 10%

[Please refer to for graph]


Kroondal: Production at Kroondal was 1.72 million tonnes, up 22% compared to
the previous quarter

The migration from contractor to owner operator, which was first announced as
part of the year-end results, has been successfully completed and substantially
all costs in relation to this initiative incurred. The migration has been
positively received by organised labour, employees and suppliers and is one of
the main reasons contributing to the increased morale amongst the workforce and
contributed to the completion of a strike free quarter. Regretfully, two of
Kroondal's employees were killed in separate incidents on their way to work
during the quarter. The Board and Management of Aquarius express their sincere
condolences to the families of the deceased.

All mining sections, on all shafts, have completed training on the
implementation of the revised support regime. 

While the Department of Mineral Resources (DMR) continued with visits to the
operations, there were no Section 54 notices issued during the quarter.   The
number of Section 54 notices issued has reduced significantly during the course
of the year due to improved communication and relationships between the Company
and the DMR as well as continued focus on its policies and procedures.

P&SA2 at Marikana (Aquarius Platinum - 50%)

As disclosed previously, as a result of current low Rand PGM basket prices, the
remaining shaft (Marikana 4 shaft) and the processing plant at Marikana have
been placed on care and maintenance until further notice.

Everest Mine
As disclosed previously, as a result of current low Rand PGM basket prices,
temporary geological problems and unstable labour relations, the Everest mine
has been placed on care and maintenance until further notice.

AQPSA Operating cash costs per ounce (Rand)
                4E                  6E             6E net of by-products  
           (Pt+Pd+Rh+Au)   (Pt+Pd+Rh+Ir+Ru+Au)            (Ni&Cu)         

Kroondal       8,403              6,895                    6,756           


Capital expenditure

 (R'000 unless otherwise stated)         Total  Per 4E oz 
Ongoing establishment of infrastructure  65,099       635 
Project capital (K6 shaft)               50,358       491 
Mobile equipment                         40,382       394 
Total                                   155,839     1,520 


Kroondal mine: reconciliation of cash costs per 4E ounce
                                                    Cost per 4E ounce
                                                      Q2          HY1     

Total operating expenditure                         10,296       10,633 
Ongoing capital expenditure & mobile equipment     (1,029)      (1,142) 
Project capex (K6 shaft)                             (491)        (509) 
Transition costs                                     (373)        (294) 
On mine cash costs                                   8,403        8,688 


The Company continues to develop the K6 shaft at Kroondal and conduct design
and drill work at Everest. The K6 shaft sinking project remains on budget and
is ahead of time. The Company expects to incur R90 million in capital (R45
million attributable to Aquarius) during H2 on this project, in line with
budget. Work on this shaft is currently performed by a mining contractor and
Aquarius is currently doing the planning to take over operational
responsibility, in line with its decision to move to owner operator.

Almost all other project and growth capital expenditure has been placed on
hold, pending improved market conditions. The Company is continuing with the
necessary maintenance capital expenditure required by its operating mines. The
capital expenditure on mobile equipment is financed through a lease agreement
over the life of the equipment.

MIMOSA INVESTMENTS (Aquarius Platinum - 50%)

Mimosa Platinum Mine

 * 12-month rolling average DIIR improved to 0.16 per 200,000 man hours worked

 * Production decreased by 5% to 600,066 tonnes, in line with forecast

 * Head grade improved slightly to 3.67g/t

 * Recoveries improved slightly to 77.8%

 * Volumes processed decreased by 7% to 575,638 tonnes

 * Stockpiles at the end of the quarter totalled approximately 123,191 tonnes 

 * PGM production decreased by 6% to 52,752PGM ounces in line with forecast

 * Revenue increased by 16% to US$68 million due to improved metal prices

 * Mining cash costs increased by 8% to US$82 per tonne, and costs per PGM 
   by 8% to $897

 * Stay-in-business capital expenditure was $171 per PGM ounce for the quarter

 * Mimosa's cash margin for the period decreased from 20% to 16% due to 

[Please refer to for graph]


The Mimosa mine continues to operate well, despite growing cost pressures which
led to above expectation increases in cost. Discussions on indigenisation were
concluded during the month and this culminated in the signing of a term sheet
on the 14 December 2012.  The term sheet sets out the key details of the
indigenisation plan and paves way for the drafting of detailed agreements that
will facilitate the implementation of the plan.  It is envisaged that all
agreements will be finalised by the end of March 2013.

Operating cash costs per ounce

Unit cash costs per PGM ounce (before by-product credits) were 5% higher than
those achieved in the previous quarter. The higher costs were mainly due to
decreased PGM production relative to Q1, the temporary increase in reagent
usage, as well as costs incurred in building the ore stock pile following the
fire incident in May 2012. Metal recoveries, though marginally improved from
the previous quarter, are still below expected levels. The consumption of
chemicals and reagents was increased, and exceeded budget, in an effort to
improve recoveries and to counter lower-than-anticipated process efficiencies.
Reagents will be changed as soon as existing inventory levels have been
depleted by June 2013. A dedicated team has been put in place to work on an
initiative to improve recoveries and other plant efficiencies by about 3%
within the next 12 months.
                4E                   6E               4E net of by-products
              (Pt+Pd+Rh+Au)     (Pt+Pd+Rh+Ir+Ru+Au)           (Ni, Cu & Co)       

Mimosa         897                  848                        586             


Capital expenditure

The total capital expenditure for the second quarter amounted to $9 million.
Expenditure was mainly incurred in mobile equipment, Drill Rigs and LHD;
Conveyor belt extension, Down dip Development, and Housing project.


Platinum Mile (Aquarius Platinum - 91.7%)

 * Material processed decreased 66% to 389 million tonnes

 * Head grade increased to 0.78 g/t

 * Recoveries decreased to 10%

 * Production decreased to 1,349 PGM ounces

 * Cash costs increased to R7,688 per PGM ounce

 * Revenue was R12 million for the quarter

 * The cash margin for the period was 13%, an decrease from 35% in the previous


Platinum Mile:

The results for the quarter were significantly impacted by strikes at Anglo
Platinum during the months of October and November.  For this reason the
operation lost 13 production days in September and virtually the whole of
October and November 2012. These strikes continued into early December 2012
when production commenced as per normal. Whilst the results for the quarter
were impacted by these strikes, encouragingly a positive cash margin was
achieved despite these trying circumstances. The recently announced restructure
at Anglo Platinum is not expected to materially impact the operations of
Platinum Mile as it continues to treat only tails from the Merensky
concentrator whilst it is expected that Anglo Platinum will reduce UG2
production as part of its restructure.

Chromite Tailings Retreatment Plant (CTRP) (Aquarius Platinum - 50%)

The operation remains on care and maintenance since 6 August 2012.

Operating cash costs per ounce
                     4E                6E            4E net of by-products 
               (Pt+Pd+Rh+Au)   (Pt+Pd+Rh+Ir+Ru+Au)       (Ni, Cu& Co)      

Platinum Mile      7,688              6,730                  6,133          
Issue of Shares to Support Black Economic Empowerment (BEE) Partners 
As previously announced, in October 2012 the Company issued and allotted
14,000,000 fully paid common shares of US$0.05 at a price per share of 41.75
pence (A$0.64) as part of a transaction intended to preserve the black economic
empowerment ("BEE") credentials of Aquarius. The Board of Aquarius resolved
that it was in the interests of Aquarius, and in line with its ongoing
commitment to comply with the BEE and regulatory framework in South Africa, to
assist the BEE Partners to preserve their remaining shareholding in Aquarius. 
Subsequent to the end of the quarter these shares which formed a limited
guarantee and pledge provided to the BEE Partners' financiers has been
released. These shares are currently held as Treasury. 
Aquarius' full announcement released to the market on 4 October 2012 outlining
details of the transaction is available on Aquarius' website.  
Mimosa Indigenisation 
On 14 December 2012, Mimosa Investment Holdings ("Mimosa Investments"), which
is held jointly in a 50:50 partnership with Impala Platinum Holdings Limited,
concluded a term sheet in respect of a proposed indigenisation implementation
plan ("IIP") with the Government of Zimbabwe.  The term sheet provides for the
key terms, subject to certain conditions precedent, of the sale by Mimosa
Investments of an aggregate 51% equity ownership of Mimosa Holdings (Private)
Limited ("Mimosa Holdings"), the wholly owned operating subsidiary of Mimosa
Investments which owns and manages the Mimosa mine.  The sale consideration for
the 51% of Mimosa Holdings to the indigenous parties is US$550 million (50%
attributable to Aquarius), based on an agreed fair market value for Mimosa
Holdings of US$1.078 billion.  
Mimosa Investments will provide a vendor loan funding mechanism to facilitate
the transaction which has a term of ten years. This loan will bear interest at
a rate of 9% annually and will be settled through the waiver of the right to
receive 90% of dividends due to the indigenous entities in favour of Mimosa
Investments. Any loan balance outstanding at the end of the ten-year period
will be payable in cash. 
Aquarius' full announcement of 14 December 2012 outlines details of the
indigenisation plan and is available on Aquarius' website. 
Potential acquisition of the Booysendal reserve 
The Company remains in communication with the Department of Mining and
Resources ("DMR") in South Africa in relation to the outstanding approval from
the DMR required to implement this transaction. In the event of the approval
being granted before the end of  April 2013 by which date the agreement lapses
the Company will advise shareholders accordingly. 
Aquarius' full announcement of 4 May 2011, outlines details of this transaction
and is available on Aquarius' website. 
Board Changes 
Mr Stuart Murray resigned as director and CEO of Aquarius and executive
chairman of AQPSA in October 2012. Mr Jean Nel was appointed Chief Executive
Officer of the Group on 5 November 2012 and Mr Zwelakhe Mankazana,
Non-executive Chairman of AQPSA.  Sir William Purves retired from the AQP Board
on 5 November 2012. 
More information on all corporate matters can be found at 
Statistical Information: Kroondal P&SA1 
[Please refer to for statistical information] 
Statistical Information: Mimosa 
[Please refer to for statistical information] 
Statistical Information: Platinum Mile 
[Please refer to for statistical information] 
Aquarius Platinum Limited
Incorporated in Bermuda
Exempt company number 26290 
Board of Directors
 Nicholas Sibley     Non-executive Chairman                    
 Jean Nel            Chief Executive Officer                   
 David Dix           Non-executive                             
 Tim Freshwater      Non-executive (Senior Independent Director)
 Edward Haslam       Non-executive                              
 Kofi Morna          Non-executive                              
 Zwelakhe Mankazana  Non-executive                               
Audit/Risk Committee
David Dix (Chairman)
Edward Haslam
Kofi Morna
Nicholas Sibley 
Remuneration/Succession Planning Committee
Edward Haslam (Chairman)
David Dix
Zwelakhe Mankazana
Nicholas Sibley 
Nomination Committee
Edward Haslam (Chairman)
Tim Freshwater
Kofi Morna
Willi Boehm 
Company Secretary
Willi Boehm 
AQPSA Management                            
 Zwelakhe Mankazana Non-executive Chairman   
 Jean Nel           Chief Executive Officer  
 Robert Schroder    Managing Director        
 Graham Ferreira    Finance Director         
 Wessel Phumo       General Manager: Kroondal 
Mimosa Mine Management
 Winston Chitando   Managing Director                          
 Herbert Mashanyare Technical Director                         
 Peter Chimboza     Resident Director                          
 Fungai Makoni      General Manager Finance & Company Secretary 
Platinum Mile Management
 Richard Atkinson   Managing Director 
 Paul Swart         Financial Director 
Issued Capital 
At 31 December 2012, the Company had on issue: 486,851,336 fully paid common
shares and 120,000 unlisted options.  
Substantial Shareholders 31 December 2012    Number of Shares  Percentage  
Chase Nominees Limited                          31,756,135        6.52     
JP Morgan Nominees Australia Limited            29,109,414        5.98     
HSBC Custody Nominees (Australia) Limited       26,873,642        5.52     
Primary        Australian Securities Exchange  Trading Information             
Listing:       (AQP.AX)                                                         
Premium        London Stock Exchange (AQP.L)   ISIN number BMG0440M1284        
Secondary      JSE Limited (AQP.ZA)            ADR ISIN number US03840M2089    

                                               Convertible Bond ISIN number    

Broker (LSE) (Joint) Broker (ASX)         Sponsor (JSE)                   

Liberum Capital                                                           
Ropemaker Place,                                                          
Level 12                                                                   
25 Ropemaker Street,                      Rand Merchant Bank              
London               Euroz Securities     (A division of FirstRand Bank    
                 Level 18 Alluvion    Limited)                        
EC2Y 9LY             58 Mounts Bay Road,  1 Merchant Place                
Telephone: +44 (0)   Perth WA 6000        Cnr of Rivonia Rd and Fredman   
20 3100 2000         Telephone: +61 (0) 8 Drive, Sandton 2196              
                 9488 1400            Johannesburg South Africa       
Bank of America                                                           
Merrill Lynch                                                             
2 King Edward St                                                          
London, EC1A 1HQ                                                          
Telephone: +44 (0)20                                                      
7628 1000                                                                  
Aquarius Platinum (South Africa) (Proprietary) Ltd 
100% Owned
(Incorporated in the Republic of South Africa)
Registration Number 2000/000341/07 
Unit 16, Berkley Office Park, 8 Bauhinia Street, Highveld Techno Park,
Centurion, Pretoria, South Africa.
Postal Address:       PO Box 76575, Wendywood, 2144, South Africa 
Telephone:            +27 (0)120012001 
Facsimile:            +27 (0)120012070 
Aquarius Platinum Corporate Services Pty Ltd 
100% Owned
(Incorporated in Australia)
ACN 094 425 555 
Level 4, Suite 5, South Shore Centre, 85 The Esplanade, South Perth, WA 6151,
Postal Address:       PO Box 485, South Perth, WA 6151, Australia 
Telephone:            +61 (0)8 9367 5211 
Facsimile:            +61 (0)8 9367 5233 
For further information please visit or contact: 
In the United Kingdom and South Africa:      In Australia:      
  Jean Nel                                     Willi Boehm                   
  +27 12 001 2001                              +61 (0) 8 9367 5211 
A$       Australian Dollar                                                      
Aquarius Aquarius Platinum Limited                                             
or AQP                                                                          
APS      Aquarius Platinum Corporate Services Pty Ltd                           
AQPSA    Aquarius Platinum (South Africa) (Pty) Ltd                             
ACS(SA)  Aquarius Platinum (SA) Corporate Services (Pty) Ltd                    
BEE      Black Economic Empowerment                                             
BRPM     Blue Ridge Platinum Mine                                               
CTRP     Chrome Tailings Retreatment Operation. Consortium comprising Aquarius  

         Platinum (SA) (Corporate Services) (Pty) Limited (ASACS), Ivanhoe     
         Nickel and Platinum Limited and Sylvania South Africa (Pty) Ltd       

DIFR     Disabling injury frequency rate -being the number of lost-time         
     injuries expressed as a rate per 1,000,000 man-hours worked            
DIIR     Disabling injury incidence rate -being the number of lost-time         
     injuries expressed as a rate per 200,000 man-hours worked              
DME      formerly South African Government Department of Minerals and Energy    
DMR      South African Government Department of Mineral Resources, formerly the 
Dollar   United States Dollar                                                  
or $                                                                            
Everest  Everest Platinum Mine                                                  
Great    A PGE bearing layer within the Great Dyke Complex in Zimbabwe         
g/t      Grams per tonne, measurement unit of grade (1g/t = 1 part per million) 
JORC     Australasian code for reporting of Mineral Resources and Ore Reserves 
JSE      JSE Limited                                                            
Kroondal Kroondal Platinum Mine or P&SA1 at Kroondal                            
LHD      Load haul dump machine                                                 
Marikana Marikana Platinum Mine or P&SA2 at Marikana                            
Mimosa   Mimosa Mining Company (Private) Limited                                
nm       Not measured                                                           
PGE(s)   Platinum group elements plus gold.  Five metallic elements commonly   
(6E)     found together which constitute the platinoids (excluding Os           

         (osmium)).  These are Pt (platinum), Pd (palladium), Rh (rhodium), Ru 
         (ruthenium), Ir (iridium) plus Au (gold)                              

PGM(s)   Platinum group metals plus gold.Aquarius reports the PGMs as          
(4E)     comprising Pt+Pd+Rh plus Au (gold) with the Pt, Pd and Rh being the    
     most economic platinoids in the UG2 Reef                               
PlatMile Platinum Mile Resources (Pty) Ltd                                      
P&SA1    Pooling & Sharing Agreement between AQPSA and RPM Ltd on Kroondal      
P&SA2    Pooling & Sharing Agreement between AQPSA and RPM Ltd on Marikana      
R        South African Rand                                                     
Ridge    Ridge Mining Limited                                                   
ROM      Run of mine. The ore from mining which is fed to the concentrator      
     plant. This is usually a mixture of UG2 ore and waste.                 
Tonne    1 Metric tonne (1,000kg)                                               
TARP     Trigger Action Response Procedure                                      
UG2 Reef A PGE-bearing chromite layer within the Critical Zone of the Bushveld  
-0- Jan/29/2013 07:00 GMT
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