Sylvania Platinum has entered into an agreement with Aquarius Platinum, a wholly owned subsidiary of Aquarius Platinum Limited, to examine the feasibility of extracting and processing ore from the Everest North deposit in South Africa.
Aquarius Platinum Limited announced that following the announcement initiating the restart of the Everest Mine, South Africa, the concentrator plant has now been commissioned and milling operations have recommenced. First concentrate was shipped from Everest last Friday, some three months ahead of schedule. It is anticipated that approximately 120,000 tons of ore will be processed at Everest in May and June, contributing approximately 8,000 PGM (4E) ounces to Aquarius’ attributable production for the financial year ending 30 June 2010.
Aquarius Platinum Limited has decided to suspend operations at the Everest Platinum mine for a minimum of six months following a comprehensive assessment of the options available to mine management, and primarily focussing on the future safety of the mine and its personnel. Operations were suspended on December 7, 2008, when were suspended after instability was detected in the upper areas of the mine. The instability was subsequently found to be a result of subsidence that has occurred over an upper area of the mine with the area affected by subsidence limited to a mined out area of the orebody which includes the upper levels of the decline shaft.
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