24th Oct 2006 07:00
AQUARIUS PLATINUM LIMITEDASX, LSE & JSECompany Announcement24 October 2006Aquarius Platinum granted new order mining rights for its Kroondal, Marikanaand Everest minesJohannesburg: Aquarius Platinum Limited (ASX, LSE and JSE: AQP) is pleased toannounce that the South African Department of Minerals and Energy (DME) hasapproved its South African subsidiary company's applications for the new ordermining rights conversions in respect of all three of its mines: Kroondal,Marikana and Everest.Speaking in Johannesburg today, Aquarius Platinum CEO Stuart Murray said:"Aquarius Platinum is a pioneer in various aspects of the platinum miningbusiness. We lead the way in the mining of smaller-scale deposits; we havetaken down the farm fences between properties to ensure that mineral extractioncan be optimised with our neighbours."Also, we have demonstrated that black economic empowerment (BEE) can enhanceour business: our BEE partner, the Savannah Consortium, in acquiring aninterest in Aquarius Platinum South Africa, provided the funds to finance thedevelopment of our new Everest Mine."We approached our Social and Labour Plans and conversion applications in thesame manner in which we approach our mining operations - with enthusiasm,initiative and an intention to make them work. We are grateful for the supportand guidance of the DME during this process."From a shareholder point of view, these conversions reinforce our long-termpresence and commitment to South Africa."Zwelakhe Sisulu, Chairperson of the Savannah Consortium, said: "This milestonerepresents an expression of confidence in the Company's ability to meet itsobligations in terms of South Africa's mining legislation. Aquarius is ahead ofthe pack in terms of black equity ownership and has already embarked uponcomprehensive programmes for gender empowerment, community and workerinvolvement, welfare, and priority skills development as well as ruraldevelopment."We applaud the DME for charting a path that, despite its early detractors, isproving a valuable tool in effectively leveraging rights to exploit naturalresources for the benefit of the mining sector and in the interests ofsocio-economic transformation."Mining companies like us will continue to rely on the DME to ensure that thecountry's laws and regulations, including the financial and fiscal regime,promote growth and protect empowerment participation."The Minister of Minerals and Energy, Ms Buyelwa Sonjica, said: "The successfulconversions by Aquarius are further testament to what can be achieved whengovernment and industry join hands in the quest to better the lives of ourpeople."I believe that as more companies within the industry embrace and implement therequirements of the Minerals and Petroleum Resources Development Act (theMPRDA), we will see the fruits thereof and our economy will continue toprosper."It is essential to understand that as prosperity comes, it needs to impact onthe second economy and the lives of the poorest of the poor. This is to ensurethat we can jealously guard the gains of our new democracy. Economic prosperitywithout social development is a recipe for disaster."We as government are encouraged by companies such as Aquarius that take up thechallenge of the MPRDA and make sure that the requirements regarding the socialand labour plans are also met. I therefore encourage industry to continue itsefforts in this regard."For further information, please visit www.aquariusplatinum.com or contact:In Australia:Willi Boehm - Aquarius Platinum Corporate Services Pty Ltd+ 61 (0)8 9367 5211In the United Kingdom:Nick Bias - BuckBias Ltd+ 44 (0)7887 920 530In South Africa:Charmane Russell - Russell & Associates+ 27 (0)11 880 3924 / + 27 82(0) 372 5816Aquarius Platinum:ASX, LSE & JSE: AQPISIN CODE: BMG0440M1029Registered office: Aquarius Platinum Limited, Clarendon House, 2 Church Street,Hamilton, HMCX BermudaE-mail: [email protected]: +61 8 9367 5211ENDAQUARIUS PLATINUM LIMITEDRelated Shares:
AQP.L