Aquarius Platinum's profit falls

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PlatinumJewellery

REUTERS

A saleswoman displays platinum rings.

Johannesburg - Aquarius Platinum, the world's fourth-largest platinum miner, reported a fall in revenue and core operational earnings for the third-quarter from a year earlier.

The miner, which operates in South Africa's platinum belt that is prone to labour unrest, said mine earnings before interest, tax, depreciation and amortisation (EBITDA) was $11 million for the quarter ended March 31.

It reported mine EBITDA of $30 million a year earlier.

Revenue fell to $60 million from $100 million a year ago.

However, revenue and mine EBITDA rose from the previous quarter, driven by higher output at its key Kroondal mine. - Reuters


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