Amplats lifts refined PGM output by 26% y/y
Platinum group metals (PGMs) miner Anglo American Platinum (Amplats), which is headed up by CEO Chris Griffith, achieved a 26% year-on-year increase in refined PGM output to 1.3-million ounces in the third quarter ended September, as its processing performance improved.
Refined platinum production increased by 4% year-on-year to 578 500 oz and refined palladium production increased by 13% year-on-year to 362 000 oz.
Meanwhile, PGM concentrate production reached 1.14-million ounces – in line with that produced in the third quarter of 2018.
Platinum production, however, decreased by 1% year-on-year to 526 800 oz, while palladium output was flat at 351 800 oz.
PGMs output from Amplats’ own managed mines increased by 1% year-on-year to 642 500 oz as a result of higher output at the Mogalakwena mine, in Limpopo, and the Unki mine, in Zimbabwe.
Joint venture PGMs production increased by 1% to 248 200 oz owing to higher volumes from the Kroondal mine, despite a weak performance from Modikwa.
PGM sales volumes were down 2% to 1.02-million ounces as a result of lower minor metal sales. Platinum sales volumes, however, increased by 21% year-on-year to 522 200 oz and palladium sales volumes by 12% year-on-year to 309 700 oz.
Amplats has maintained its full-year metal-in-concentrate production guidance at 4.2-million to 4.5-million PGM ounces. This includes platinum production of two-million to 2.1-million ounces and palladium production of 1.3-million to 1.4-million ounces.
While Amplats does not expect any significant headwinds in the fourth quarter, it has warned that prolonged periods of electricity supply interruptions could potentially impact on the full-year guidance.
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