Anglo American Platinum (Amplats) produced 1.26-million ounces of platinum-group metals (PGMs) in the fourth quarter of 2018 – a 3% increase on the 1.22-million ounces produced in the fourth quarter of 2017.
Amplats attributed the increase to an improved operational performance, particularly at its Unki mine and its joint venture (JV) projects.
The company’s own managed PGM mines’ production decreased by 2% year-on-year to 535 600 oz, as lower production at Mogalakwena, owing to a planned reduction in grade, and Amandelbult, owing to the impact of a fatality, was partially offset by a strong performance from Unki and the inclusion of Mototolo as own mined production.
The company achieved a strong JV PGMs production performance, with output up 6% to 281 600 oz, owing to productivity improvements.
The company’s purchase of PGMs concentrate from third parties increased by 32% to 439 700 oz, owing to production bought from the Union mine and the inclusion of all material from the Bafokeng Rasimone Platinum Mine following its sale.
The company noted strong refined PGMs production, which increased by 5% to 1.53-million ounces as a result of partially refining the build-up of work-in-progress inventory following scheduled smelter rebuilds and maintenance earlier in 2018.
Moreover, this performance was up against a strong comparative quarter in the fourth quarter of 2017, when additional work-in-progress inventory was processed following the Waterval smelter run-out.
The company’s PGMs sales volumes were flat at 1.51-million ounces.
For this year, Amplats expects its output, excluding tolling material from Sibanye-Stillwater, to be between 4.2-million and 4.5-million ounces, including platinum production of between 2-million to 2.1-million ounces and palladium production of 1.3-million to 1.4-million ounces.
Production guidance is down on 2018 owing to the transition of Sibanye material to a tolling arrangement in place of its concentrate being bought.
Purchased production from Sibanye in 2018 equated to 903 900 oz of PGMs, including 464 100 oz of platinum and 231 800 oz of palladium.
Refined production and sales volumes are expected to increase as the backlog of work-in-progress inventory is processed in full this year.