UPDATE: Aquarius Platinum, Impala Zimbabwe Mine Fire Damage Unknown
22 May 2012 - 10:23PM
Dow Jones News
Platinum miners Aquarius Platinum Ltd. (AQP.LN) and Impala
Platinum (IMP.JO) said Tuesday a fire overnight at the jointly
owned Mimosa operation in Zimbabwe has been contained.
The majority of the 75 workers stuck in underground due to poor
visibility because of the smoke are out and about eight still in
there will be out soon, an Impala spokesman said.
The fire started when the conveyor belt in the main decline
caught alight, but has been contained.
Impala said there are two other smaller conveyer belts that can
be used while the mining team assesses the overall damage.
Impala wouldn't give a figure for how much output will be lost
but said some mining is continuing.
The Mimosa mine is a 50-50 joint venture between Aquarius and
Impala. The mine produced 104,900 troy ounces of platinum in 2011
and employs 1,796 people, including contractors.
Aquarius shares at 1110 GMT were down 1 pence, or 1.4%, at 84
pence valuing the company at GBP399 million.
-Devon Maylie, Dow Jones Newswires, +27117837848,
devon.maylie@dowjones.com
(Ed Ballard in London contributed to this report.)
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