Aquarius Platinum May Lose 2,000 Ounces of Production After Worker Deaths

Aquarius Platinum Ltd. may lose 1,500 ounces to 2,000 ounces of output ocrushing plant manufactuered in pakistanf platinum group metals at its Marikana mine in South Africa after five workers were crushed to death by falling rock in an underground tunnel.

The drop in production, about 0.3 percent of its estimated attributable output in fiscal 2011, is likely if a government suspension at the company’s number-four shaft remains in place for two weeks, spokesman Gavin Mackay said by phone from London today. The shaft makes up about half of the mine’s daily output. Aquarius plans to report the results of an investigation to government safety inspectors in two weeks, it said today in a statement. Marikana is a 50:50 venture with Anglo Platinum Ltd. About 500 metric tons of rock fell on contract workers employed by Murray & Roberts Ltd. on July 6 at the mine in South Africa’s North West province, the world’s richest source of platinum. The section of rock was supported “to industry standards,” Aquarius said.