Aquarius halts mining at Kroondal

Platinum miner Aquarius Platinum has temporarily suspended operations at its Kroondal platinum mine in South Africa to ensure the safety of its staff, as tensions rise in the region.

"Our decision to suspend mining operations has been taken to ensure the safety and security of our employees and our assets given the rising tensions and protests within the regional workforce and communities," said Aquarius's Chief Executive Officer Stuart Murray.

Murray said the company has not been immediately affected by strike action this week and has not received any wage-related demands from employees.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

"We have maintained close dialogue with union representatives and the authorities," Murray said.

Although mining at the asset located near Rustenburg has stopped, processing operations are continuing.

Mining operations are scheduled to restart on the evening of September 16th, subject to developments in the region.

Shares in Aquarius were trading 7.6p at 48.7p near the close of business.

JH