Amplats increases its full-year production guidance

Anglo American Platinum, in its PGM Production Report for the third quarter ending 30 September 2020, has reported that total PGM production of 1,112,900 ounces decreased 2% against prior year largely due to lower production predominantly from the joint operations of Modikwa and Kroondal, as well as  Amandelbult.

This was largely offset by strong production performance from Unki, Mogalakwena and Mototolo who increased production 12%, 9% and 6% respectively. Platinum production was down 2% to 516,400 ounces and palladium production was flat at 352,200 ounces.

The impact of COVID-19 on the business continued in Q3 2020 and PGM ounces lost for the quarter amounted to 119,000 ounces, bringing the year to date total to 712,000 ounces. The most notable impact in Q3 was at Amplats joint operations, where 55,000 ounces (mined and purchase of concentrate) were lost. A further 52,000 ounces were lost from its third party metal providers and to a lesser extent at Amandelbult where Amplats lost 5,000 PGM ounces. Mototolo lost 6,800 PGM ounces due to COVID-19 for the quarter but exceeded the prior quarter output.

Due to the overall strong M&C production performance in Q3 2020, Amplats has increased our full year M&C production guidance to between 3.6 – 3.8 million PGM ounces (previously 3.1 – 3.6 million PGM ounces).

“From a production perspective, we have managed to reach 94% of normal capacity by the end of the quarter from our own-managed mines, with Mogalakwena, Unki and Mototolo delivering strong performances. Refined production continues to be interrupted by water leaks at the Anglo Converter Plant’s Phase B unit. We have put increased monitoring in place at the Phase B unit to ensure an ongoing safe operating environment for our employees and will continue to take all appropriate measures to keep people safe while we wait for the main Phase A unit to restart. We have made significant progress with the Phase A unit and remain on track to commission it before the end of the year,” said Natascha Viljoen, CEO of Anglo American Platinum.

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