Am­plats shows 2% rise in trad­ing

The Star Early Edition - - COMPANIES - Sandile Mchunu

AN­GLO Amer­i­can Plat­inum (Am­plats) yes­ter­day re­leased a trad­ing up­date, which showed that the com­pany pro­duced 610 000 ounces of metal-in-con­cen­trate in the fourth quar­ter, a 2 per­cent quar­terly im­prove­ment year-on-year.

The group said the fourth quar­ter pro­duc­tion is sea­son­ally lower than the third quar­ter, due to the im­pact of the pub­lic hol­i­days.

Strong op­er­a­tional per­for­mances have been achieved by the re­tained own mines, with Mo­galak­wena up 5 per­cent and Unki up 7 per­cent, as well as from joint-ven­ture op­er­a­tions BRPM and Kroon­dal.

“A record pro­duc­tion for the quar­ter at Kroon­dal and strong pro­duc­tion from BRPM was off­set by lower pro­duc­tion at Bokoni, due to clo­sures of un­prof­itable pro­duc­tion from UM2 and Ver­ti­cal Shafts at the end of 2015.

“On a nor­malised ba­sis, ex­clud­ing pro­duc­tion from the clo­sure of the two ver­ti­cal shafts, pro­duc­tion at Bokoni in­creased 4 per­cent yearon-year,” the group said.

An­glo Amer­i­can Plat­inum is a mem­ber of the An­glo Amer­i­can group and is the world’s lead­ing pri­mary pro­ducer of plat­inum group met­als.

Re­duced pro­duc­tion

Re­fined pro­duc­tion was lower, ow­ing to the run-out of molten fur­nace matte at Am­plats’s Water­val Smelter in Septem­ber, which re­duced re­fined pro­duc­tion by 59 000 ounces. The full year im­pact was 65 000 ounces less re­fined pro­duc­tion.

The group said to­tal mined pro­duc­tion from Rusten­burg op­er­a­tions in­clud­ing the Western Limb Tail­ings Re­treat­ment in­creased 9 per­cent year-on-year and 7 per­cent on the third quar­ter of 2016, re­flect­ing a quar­ter of pro­duc­tion not im­pacted by safety is­sues.

Izak van Niek­erk, an eq­uity an­a­lyst at Mer­gence In­vest­ment Man­agers, said the trad­ing up­date was in line with what the mar­ket ex­pected.

“It is their quar­ter pro­duc­tion up­date, so the full year pro­duc­tion is not known as yet.”

Am­plats shares closed 1.07 per­cent higher at R363.84 on the JSE yes­ter­day.

PHOTO: AN­GLO 4

A re­motely op­er­ated roof-bolt­ing drill in the XLP stopes of Am­plats’s Bathopele Mine.

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