Feb 7 (Reuters) - Aquarius Platinum Ltd, the world'sfourth-biggest platinum miner, reported a lower half-year lossas a rise in output from its Kroondal mine in South Africalessened the impact of a drop in prices of platinum group metals(PGMs).
Aquarius, which operates mainly in the strike-prone SouthAfrican platinum belt, reported a headline loss of $22 millionfor the half year ended Dec. 31, down from $56 million in thesame period a year earlier.
Revenue slipped 2 percent to $113 million, whileattributable production increased 7 percent to 168,014 PGMounces. PGM metals include palladium, iridium and other metals.
The average U.S dollar PGM basket price dropped 5 percent inthe half-year from the same period a year earlier, Aquariussaid, while the rand basket price rose 13 percent as the SouthAfrican currency weakened.
The company said it was concerned that dollar-denominatedmetal prices fell despite a primary deficit in PGM metal marketsduring 2013, which is forecast to increase in 2014.
Aquarius said regulatory uncertainty in South Africa andZimbabwe and the precarious state of South African industrialrelations have also made longer-term planning difficult.
The world's top three platinum miners are trying to hammerout wage agreements with South Africa's largest labour body, theAssociation of Mineworkers and Construction Union, to end to atwo-week strike that the country's Chamber of Mines says iscosting the industry about $18 million a day in revenue.
AMCU members walked out at Anglo American Platinum Ltd, Impala Platinum Holdings Ltd and Lonmin Plc on Jan. 23. Workers at Aquarius's main operations arenot on strike.
