Aquarius Platinum third-quarter core earnings fall

April 29, 2014

(Reuters) – Aquarius Platinum Ltd, 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 amortization (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.

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