Aquarius Platinum Q4 production up marginally

(Reuters) - Aquarius Platinum's fourth-quarter output rose marginally as lower-than--expected volumes at its South African operations was offset by record production at its Mimosa mine in Zimbabwe.

Aquarius said April-June production was 114,260 platinum group metal (PGM) ounces.

The company, whose larger rival includes South Africa-based Lonmin, said platinum and palladium traded flat during the quarter as the Japanese earthquake and tsunami in March dampened global auto manufacturing, deferring the recovery in demand for PGMs.

Platinum closed the quarter down 3 percent at $1,722 per ounce, while palladium fell by 1 percent to $761 per ounce over the same period.

According to a Reuters poll conducted last week, uncertainty over economic growth is likely to temper gains in platinum and palladium prices over the next year.

The company said it also discontinued its mining operations and capital development of the Blue Ridge mine in South Africa.

Shares in the FTSE-250 company, which is also listed in Sydney and Johannesburg, closed at 307.8 pence on Monday on the London Stock Exchange.