Anglo American Platinum CEO Natascha Viljoen. [Supplied]
- Amplats’ full-year guidance for metal-in-concentrate production is unchanged at 4.2 to 4.4 million ounces.
- The platinum producer says its 100 MW solar plant project at Mogalakwena mine is progressing well.
- As of end of September, 50% of Amplats’ workforce had received their first dose of the Covid-19 vaccine.
Planned maintenance at the Mogalakwena North concentrator and the scheduled integration of Unki contributed to a 7% dip in production levels at Anglo American Platinum’s managed operations in the third quarter of the year, the company said on Thursday.
Platinum producers have been boosted by higher prices in the past 18 months, and Amplats said the average realised basket price of $2 838 (~R41 369) per platinum group metals (PGM) ounce reflected strong prices compared to the third quarter of 2020, particularly for rhodium, iridium, and ruthenium. However, the basket price was lower than during first half of 2021, as demand was impacted by chip shortages in the automotive sector.
Production of refined metals went up 39% to 1 420 400 ounces, as the Anglo Convertor Plant (ACP) which was last year hit by a series of breakdowns returned to stability. The two units of the Rustenburg processing plant broke down several times last year.
The company said on Thursday the Phase B of the ACP rebuild was on schedule for completion in the fourth quarter 2021, barring any further Covid-19-related disturbances.
PGM sales volumes from trading decreased 53% to 160 200 ounces, as sales from trading activities were abnormally high in the third quarter of 2020 to maintain a supply of metal to customers following the impact of Covid-19 on production and the temporary closure of the ACP.
Anglo American Platinum has left its full-year guidance for metal-in-concentrate production unchanged at 4.2 to 4.4 million ounces, and refined PGM production and PGM sales volumes is also unchanged at 4.8 to 5 million ounces. The guidance is subject to the consequences of Covid-19 and Eskom power outages in the fourth quarter of 2021.
“We are on track to achieve our production and sales targets for the year, while carefully managing the ongoing risks posed by Covid-19 and the potential for Eskom power outages,” said CEO Natascha Viljoen.
She also stated that the project for the construction of a 100 MW solar at Mogalakwena was progressing well, in what is part of the company’s plan of achieving carbon neutrality across its business by 2040. Several mining houses having been developing their own on-site renewable energy projects, as they seek to reduce their reliance on Eskom’s power supply.
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