Mimosa Mine could lose $6.8 million due to adjustment in mining fees

Aquarius has reported that its Mimosa Mine in Zimbabwe put up a strong performance but warned that the mine could lose up to $6.8 million annually as a result of the overall upward adjustment in mining fees.

Commenting on its half-year to December 31 2011 results, Aquarius said Mimosa performed strongly, producing platinum group metals with a high gold content at nameplate capacity.

Mimosa's PGM production increased by 3% to 104 254 PGM ounces, while revenue increased by 1% to $146 million due to higher metal prices achieved during the period.