Pretoria News - - BUSINESS REPORT -

AN­GLO Amer­i­can Plat­inum said on Fri­day that it had started the re­pair process at its dam­aged converter plant and had been in dis­cus­sions with third par­ties and agreed, in prin­ci­ple, on re­vised terms for the du­ra­tion of a force ma­jeure pe­riod ne­ces­si­tated by the shut-down. Fri­day’s update came after Am­plats on March 6 an­nounced the tem­po­rary shut­down of the en­tire An­glo Converter Plant (ACP), part of the chain of its pro­cess­ing fa­cil­i­ties, and the need to de­clare force ma­jeure, a ref­er­ence to un­fore­see­able cir­cum­stances that pre­vent an en­tity from ful­fill­ing a con­tract. The com­pany’s ACP phase A converter plant at Water­val smelter in Rusten­burg was dam­aged fol­low­ing an ex­plo­sion in Fe­bru­ary, with re­pairs ex­pected to be com­pleted by the se­cond quar­ter of 2021. Am­plats said the phase B unit was com­mis­sioned to take over from the phase A plant but water was de­tected in the fur­nace, pos­ing a high risk of ex­plo­sion and ne­ces­si­tat­ing a tem­po­rary shut­down to en­sure the safety of work­ers. Re­pair work to fix the phase B unit would take ap­prox­i­mately 80 days. On Fri­day, Am­plats said it did not fore­see any cus­tomer agree­ments be­ing ter­mi­nated as a re­sult of this dis­rup­tion. “The force ma­jeure pe­riod is de­fined as start­ing on March 6… and re­mains on­go­ing for the time it takes to re­pair ACP Phase B which is ex­pected to be ap­prox­i­mately 80 days, ending around May 25,” it said. | African News Agency (ANA)

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.