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LONDON (Thomson Financial) - Aquarius Platinum Ltd. said its fourth-quarter PGM production declined to 109,863 PGM ounces from 112,527 in the previous quarter, due to relations issues at its operations.
Chief executive Stuart Murray said record prices during the quarter offset the impact of higher costs to an extent, but not enough to lift margins as in previous quarters.
"Lifting volumes is paramount if margins are to be maintained in light of significant cost pressures, as we all continue grapple with significant escalation in prices for electricity, diesel, steel, chemicals, labour and explosives," Murray added.
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