JOHANNESBURG (miningweekly.com) – The total refined platinum output by world number-one producer Anglo Platinum (Angloplat) declined by 5,7% year-on-year in the first three months of the financial year, while the company’s plans to produce 2,4-million ounces of platinum this year remained firmly in place.

Platinum output fell to 404 000 oz in the March quarter, which was a 52% decline on the production figures for the December quarter.

The South African platinum-miner, led by Neville Nicolau, said in a statement to shareholders on Thursday that the decline in production of refined platinum was mainly as a result of maintenance shutdowns at its Waterval and Polokwane smelters.

These shutdowns had also resulted in declining palladium and nickel production, with palladium output dropping by 47,8% quarter-on-quarter and 4,4% year-on-year to 231 100 oz.

Nickel production was down to 33 000 t, representing a 19,5% year-on-year decline and a 10,8% quarter-on-quarter decline.

Rhodium production, which had a longer processing time, had not been impacted on by the shutdowns during the first quarter of the year, and was up by 28,1% quarter-on-quarter to 73 800 oz.

This was, however, a 31% year-on-year decline in rhodium production.

Angloplat's mining operations had performed in line with expectations, stated the producer, noting that the mining activities and the purchase of concentrate had increased by 19% year-on-year during the period to 613 400 oz.

Meanwhile, the Anglo American-controlled Angloplat reported that it had reduced its head count by nearly 4 200 employees, in the quarter ended March 31, which was in line with its cost management initiative to retrench 10 000 employees by the end of the year.

The producer had also cut output at its Mogalakwena mine by 50% as part of further cost-cutting measures.

Similarly, the process to suspend mining operations at the Blesbok shaft, at its Siphumelele mine, in South Africa’s North West province, had started.

Cash operating costs had declined by 7% an ounce in the quarter.

Progress had also been made with the operational restructuring of the Rustenburg operations, which now consisted of five separate mines, and the Amandelbult operations, which now consisted of two separate mines.

This restructuring was expected to ensure that the mines were more easily manageable, with an increased focus on costs and productivity.

Angloplat’s share price gained 6,67% in Johannesburg, trading at R160 a share by 11:30.

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