Anglo American hikes platinum output over 2.4 mn Oz
Anglo American Platinum Limited announced its production report for the second quarter ended 30 June 2018 & that says, platinum and palladium production increased marginally to 619,600 ounces and 406,000 ounces respectively, due to improved operational performances across the portfolio, offset by the placing of unprofitable production from Bokoni on care and maintenance in Q3 2017.
At Anglo American’s own mined platinum production decreased by 2% to 340,200 ounces and palladium production increased by 2% to 260,800 ounces, with strong operational performance across the portfolio offset by the sale of Union mine. Excluding Union, own mined platinum production increased by 11% and palladium production increased by 10%.
Mogalakwena platinum production increased by 17% to 133,400 ounces and palladium production increased by 14% to 145,100 ounces, driven by higher grade, an increase in concentrator throughput and higher recoveries.
Amandelbult platinum production increased by 7% to 116,300 ounces and palladium production increased by 5% to 52,200 ounces, driven by continued operational improvement that was supported by increased development at Dishaba as mining activities transition to this section.
Unki platinum production increased by 7% to 20,900 ounces and palladium production increased by 11% to 18,400 ounces due to increased concentrator throughput and recoveries. Union mine was sold to a subsidiary of Siyanda Resources on 1 February 2018, after which Union production was purchased as concentrate.
Joint venture platinum production (Mototolo, Modikwa and Kroondal) increased by 8% to 139,300 ounces (of which 69,600 ounces is own mined production and 69,600 ounces is purchased concentrate). Palladium production increased by 6% to 90,200 ounces (of which 45,100 ounces is own mined production and 45,100 ounces is purchased concentrate).
This was driven by a strong production performance across the portfolio, supplemented by continued additional processing of ore stockpiles built up at Mototolo following the temporary closure of the concentrator in Q3 2017.
Full year platinum production guidance has been revised to 2.4-2.45 million ounces against the previously given guidance of 2.3-2.4 million ounces, due to strong operational performance. Full year palladium production remains unchanged at 1.5-1.6 million ounces.
