Murray laid out a litany of complaints in the company’s 2Q production results that were released on Tuesday.

Aquarius Platinum’s attributable production for the second quarter decreased by four percent quarter-on-quarter to 105,629 PGM ounces.

Average PGM dollar prices deteriorated in the quarter. Platinum and palladium fell 14% and 17% respectively while rhodium fell 16%.

“The December quarter of 2011 was a most challenging one, both for AQPSA and, it seems, the entire platinum industry, which continues to be attacked from many angles,” said Murray.

Murray was critical of the many safety stoppages the company was forced to abide by.

“This issue is making the South African mining industry a difficult place in which to operate and whilst zero-harm is laudable, there must be practical implementation of the law. Not only has the incidence of these stoppages risen markedly, in many cases the time now taken by the regional department to resolve these stoppages has risen from some 2 days to a week or sometimes more.”

Aquarius Platinum also lost two weeks production at its Everest Mine due to a contractor’s strike.

“The mine is now also under an optimisation study as a result of near-term poor ground conditions, lower prices and the significant delays in permitting the open-cast reserves.”

Murray also found many external factors that are weighing negatively on the business.

“The challenges facing the region’s platinum industry at present should not be underestimated. PGM margins are now low in both Rand and Dollar terms, and oversupply (relative to real consumption) coupled with a poor economic outlook is likely to ensure that this remains the case, at least in the short term. Cost and regulatory pressures also continue unabated.”

Aquarius Platinum closed down 4.85% to $170.50 a share.

Image from Second Quarter 2012: Production Results

Read more here:
Platinum industry attacked from many angles: Aquarius Platinum CEO

A new survey out Tuesday shows South Africa’s appeal for mining investment has declined dramatically since 2006.

According to the latest South Africa Survey, published by the South African Institute of Race Relations in Johannesburg, in 2006 South Africa was ranked 37th out of 64 countries and territories. The country’s position has declined since then and its 2010 ranking was 67th in an expanded survey of 79 countries and territories.

The data was sourced from the Fraser Institute.

South Africa’s relatively low ranking is a result of perceived policy uncertainty in the eyes of potential investors. Factors such as uncertainty concerning the administration, interpretation, and enforcement of existing regulations are identified as one of the main deterrents to investment.

Concerns over labour regulations, employment agreements, and work disruptions, the reliability of the legal system, and uncertainty over disputed land claims are also considered strong deterrents for mining investment in South Africa.

According to the data, factors influencing mining investment in South Africa’s favour are the availability of labour and skills, the quality of the country’s infrastructure, the quality of its geological database, and the State’s environmental regulations.

The mining sector in South Africa contributes 9.6% to GDP and employs 3.1% of the country’s labour force. In 2010 the sector contributed 15.3% of country’s exports.

‘Uncertainty over nationalisation and mine ownership, and increasing work disruptions are affecting investors’ willingness to get involved in mining ventures in South Africa’, said Mr Jonathan Snyman, an Institute researcher. ‘Investors are looking for a stable regulatory and policy environment, but the conflicting sentiments surrounding the nationalisation debate are not helping to allay their concerns.’

In November 2011 the president of the National Union of Mineworkers (NUM), Mr Senzeni Zokwana, acknowledged that policy uncertainty was hurting investment in South Africa.

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South Africa’s attractiveness for mining investment plummets

Statistics South Africa released its Mining: Production and sales report on Tuesday.

The poor performance by PGMs caused overall mine production to fall two percent. Over the same period, gold production was up 2.9%.

According to 2009 estimates, South Africa produces 80% of the world platinum, followed by Russia at 11%.

Implats announced in November 2011 that production dropped during Q1 due to planned operational outages.

Read more here:
South African PGM production down 2.7 percent

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 12, 2012) - Uranium North Resource Corp. (“Uranium North” or the “Company”) (TSX VENTURE:UNR) announces that the 2011 exploration program on the Nowyak property in Nunavut has focused the company into a zone of high grade gold and silver mineralization with grab samples assaying up to 72.1 g/t Au, 1040 g/t Ag and 5.8% copper.

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