Anglo Platinum ups production despite industry volatility - CNBC Africa

Anglo Platinum ups production despite industry volatility

Southern Africa

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A platinum nugget. PHOTO: Getty Images

The company’s total refined platinum production increased by 25 per cent in the 2013 fourth quarter to 520 koz, compared to 414 koz during the fourth quarter of 2012.

The company, which is a member of the [DATA AGL:Anglo American plc Group], released its production results for the period 1 October 2013 to 31 December 2013 on Wednesday.

Anglo American is one of the world’s largest mining companies and is listed on the London and Johannesburg Stock Exchanges.

Its mining portfolio includes iron ore and manganese, metallurgical coal and thermal coal, base metals and minerals copper and precious metals and minerals.

“Production from own operations and the Western Limb Tailings Retreatment was 311 koz, a 35 per cent increase compared to 2012 mainly due to the illegal industrial action that depressed Q4 2012,” [DATA AMS:Anglo American Platinum] said in a statement.

“Production from joint ventures and associates, including both own mine and purchased production, increased by 13 per cent to 210 koz.”

Production from its Mogalakwena operation also increased by 24 per cent as a result of business improvement programmes that, according to the group, has improved throughput at the concentrator and recoveries.

The group’s Rustenburg, Amandelbult and Union operations collectively increased production by 38 per cent in the 2013 fourth quarter. This is in comparison to particularly low production in 2012’s fourth quarter due to illegal industrial action.

“Further industrial action was experienced at these Platinum operations in Q4 2013 between 27 September 2013 and 10 October 2013. Approximately 44,000 platinum ounces of production were lost as a result,” the company added.

Production at the company’s Rustenburg operation however decreased 41 per cent quarter-on-quarter as a result of Khomanani mine, Khuseleka 2 shaft and Union North Declines having shut since August 2013, in line with the proposed restructuring plans.

The resources from these mines have now been integrated into the surrounding operations.

“Refined platinum production in the 2013 fourth quarter was 692 thousand ounces; marginally lower than 2012 with total production for the year of 2.3 million ounces in line with production plans and guidance,” Anglo American Platinum said.