[miningmx.com] — AQUARIUS Platinum, the world’s fourth-largest primary platinum producer, said first-half net profit soared on the back of higher precious metals prices and increased production.
Aquarius posted a profit after tax of $94.3m compared with $3.9m in the same period last year. Revenue jumped 63% to $336.1m.
“Stronger prices, increased production and well-contained cost increases enabled Aquarius to generate sufficient cashflow to afford all of its working costs and stay-in-business and development capital expenditure requirements,” said CEO Stuart Murray in a statement on Thursday.
Aquarius had previously announced better-than-expected production figures for the six months to end-December, lifted by the performance of its South African operations.
Precious metal prices are expected to build on a stellar 2010 this year as risk aversion and persistently low interest rates boost their allure, a Reuters poll showed.
