JSE-listed Anglo American Platinum (Amplats) has revised its full-year platinum production guidance upwards to between 2.4-million and 2.45-million ounces, following a strong second-quarter performance.
The miner had previously expected to produce between 2.3-million and 2.4-million ounces of platinum for the full-year.
The full-year palladium production guidance, however, remains unchanged at 1.5-million to 1.6-million ounces.
During the quarter ended June 30, Amplats delivered 1.2-million ounces of platinum group metals (PGMs), comprising 619 000 oz of platinum and 406 000 oz of palladium.
The company reported improved operational performances across the portfolio, despite the closure of unprofitable ounces from its 49%-owned Bokoni joint venture (JV) mine, in Limpopo, which was placed on care and maintenance in the third quarter of 2017.
Amplats’ own-mined PGM production increased by 11% year-on-year to 586 300 oz owing to a continued exceptional performance from Mogalakwena, in Limpopo, and supported by strong performances from Amandelbult, in Limpopo, and Unki, in Zimbabwe.
Production at Mogalakwena increased, in part, as a result of the high-grade area mined in the first half of the year. This will normalise to a yearly average of 3.18 g/t platinum, resulting in a forecast production for 2018 of 1.15-million PGM ounces.
Amandelbult’s PGM production increased by 6% year-on-year to 225 700 oz, driven by a continued operational improvement that was supported by increased development at Dishaba, as mining activities transition to this section.
Unki’s PGM production increased by 8% year-on-year to 46 800 oz, owing to increased concentrator throughput and recoveries.
Meanwhile, JV PGM production increased by 7% year-on-year to 309 200 oz owing to a strong performance from Kroondal, in North West, supported by processing of ore stockpile from Mototolo, in Limpopo.
Refined PGM production increased marginally by 1% year-on-year to 1.1-million ounces, despite a planned smelter rebuild at the Mortimer smelter, in Limpopo, in the second quarter.