Aquarius Platinum has confirmed that pgm production at its Zimbabwe joint venture will rise by about 11 per cent in the year to the end of June.

The world's fourth-largest platinum producer is expecting output at the Mimosa facility to increase from 180,000 oz to 200,000 oz in the current financial year, Reuters reports.

In addition, the company announced that 2.2 million tonnes of ore will be mined at the site, compared with the figure of 2.1 million tonnes recorded in the previous 12-month period.

Aquarius owns half of the mine, with the remaining stake being controlled by Impala Platinum, which is the world's second-largest producer of the precious metal.

On top of its interest in Zimbabwe, Aquarius runs the Kroondal, Marikana and Everest mines, which are all located on the platinum-rich Bushveld Complex in South Africa.

The company is listed on the London, Australian and the Johannesburg stock exchanges and is a member of the FTSE 250.

By Staff reporter and agencies