Amplats Production for Q4 2023 decreases by 6% to 932,200 ounces

Total Platinum Group Metals (PGMs) production (expressed as 5E+Au metal-in-concentrate) of Anglo American Platinum decreased by 6% to  932,200 ounces. Total annual PGM production was 3,806,100 ounces.

Own-managed mines PGMs production decreased by 3% to 543,500 ounces mainly due to lower production at Amandelbult as a result of planned infrastructure closures and poor ground conditions at Dishaba Mine. The decrease at Amandelbult was partially offset by higher production from Unki and Mogalakwena.

Joint Operations PGM production (mined and purchase of concentrate) decreased by 47% to 104,400 ounces.  The disposal of our 50% interest in Kroondal was completed and effective 1 November 2023, resulting in Kroondal  production reported as third party purchase of concentrate (POC) arrangement going forward.

Purchase of PGM concentrate from third parties increased by 21% to 284,300 ounces, due to the inclusion of  Kroondal production as 100% third party POC from 1 November 2023.

Refined PGMs production (owned production, excluding tolling) increased by 36% to 1,191,100 ounces, with  refined production in the prior period (Q4 2022) impacted by the delay in recommissioning the Polokwane smelter.

Total annual refined PGM production was 3,800,600 ounces.

PGMs sales volumes (from production, excluding sales from trading) increased by 32% to 1,166,200 ounces in line  with higher refined production.

Guidance for 2024 – Metal-in-concentrate PGM production and refined production guidance is between 3.3-3.7  million ounces. Cash operating unit costs guidance is between R16,500-R17,500 per PGM ounce.

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