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ANGLO AMERICAN PLATINUM LIMITED QUARTERLY REVIEW AND PRODUCTION REPORT FOR THE PERIOD 01 April 2012 TO 30 June 2012
ANGLO AMERICAN PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1946/022452/06)
Share code: AMS
ISIN: ZAE000013181
ANGLO AMERICAN PLATINUM LIMITED QUARTERLY REVIEW AND PRODUCTION
REPORT FOR THE PERIOD 01 April 2012 TO 30 June 2012
KEY FEATURES
- Equivalent refined platinum production was flat at 584 koz
- Rustenburg mines’ production up 16% year-on-year due to
improved productivity and safety performances
- Refined platinum production down 3% year-on-year to 623 koz
due to operational and equipment related difficulties
experienced upon the restart of the converter plant following
its annual maintenance
REVIEW OF THE QUARTER
OPERATIONS
The equivalent refined platinum production (equivalent ounces are
mined ounces expressed as refined ounces) for the second quarter
of 2012 was flat at 584 koz.
Production volumes from own mines was in line with the second
quarter of 2011 at 390 koz. Lower production volumes at Tumela,
Union North and Mogalakwena mines were partly offset by higher
production volumes at the other underground operations, which were
less impacted by safety stoppages than in the corresponding period
in 2011. Platinum production at Rustenburg mines (Bathopele,
Khuseleka, Khomanani, Siphumelele and Thembelani) increased by 16%
year-on-year due to improved productivity and safety performances.
The impact of safety stoppages on our underground mines reduced
during the quarter following positive joint and pro-active effort
from our management, the Department of Mineral Resources and the
workforce. Although Anglo American Platinum experienced 22 safety
stoppages at own mining operations during the second quarter of
2012, compared with 12 in the second quarter of 2011 and 17 in the
first quarter of 2012, the scope and the duration of the safety
stoppages improved significantly. The safety stoppages were more
localised and were addressed over shorter periods than in 2011. As
a result, 9,800 ounces of platinum were lost due to safety
stoppages in the second quarter of 2012, compared with 22,000 in
the second quarter of 2011.
Equivalent refined platinum production from joint ventures and
associates, inclusive of both mined and purchased production, net
of concentrate sold, was up 3.5% year-on-year at 179 koz. This was
largely as a result of increased production at Mototolo, Modikwa
and Bokoni.
Equivalent refined platinum ounces purchased from third parties
decreased by 38% year-on-year from 23,900 to 14,800 ounces in the
second quarter of 2012.
Refined platinum production decreased by 3% year-on-year to 623
koz from 641 koz, primarily due to the delayed restart of the
converter plant post its annual maintenance. However, those
difficulties have been resolved and the furnace matte converted in
June 2012 exceeded the previous monthly record by 5%. We expect
the backlog in pipeline stocks to be processed by the end of the
third quarter of 2012 as the converter plant has reached steady
state operating level.
GUIDANCE FOR THE REMAINDER OF 2012
Guidance for the remainder of 2012 will be included in our interim
results which will be released on 23 July 2012.
QUARTERLY PRODUCTION STATISTICS
Quarter ended
June June March
2012 2011 2012
Production statistics
Tonnes mined - opencast (see note
1) 000 17 832 17 974 17 143
Tonnes broken - underground mines 000 7 226 6 304 6 321
Tonnes milled 000 10 632 10 388 10 410
per 1
Merensky / UG2 / Other tonnes Merensky
(see note 2) tonne 1:4.0:3.9 1: 4.0: 4.6 1:4.1:4.1
g/tonne
4E Built-up head grade milled 3.09 3.19 3.20
Merensky reef 4.76 5.00 4.84
UG2 reef 3.64 3.76 3.72
Platreef (Mogalakwena Mine) 2.63 3.01 2.96
MSZ reef (Unki Mine) 3.45 3.69 3.53
Surface sources including WLTR 1.12 1.18 1.13
Equivalent refined platinum
production (see note 3) 000 oz
Own mines and WLTR 389.7 395.5 412.9
Joint ventures - mines 58.1 54.7 57.8
Joint ventures and associates -
purchased 121.0 118.4 110.7
Purchases from third parties 14.8 23.9 11.8
Attributable to Anglo American
Platinum 583.6 592.5 593.2
Total refined production
Platinum 000 oz 623.0 640.7 402.8
Palladium 000 oz 355.5 373.8 235.0
Rhodium 000 oz 75.1 79.9 53.9
Gold 000 oz 24.1 31.5 24.0
PGMs 000 oz 1 186.7 1 244.0 801.3
000
Nickel tonnes 5.4 5.5 4.7
000
Copper tonnes 3.3 3.3 2.9
Refined platinum production 000 oz 623.0 640.7 402.8
Mining 000 oz 472.8 482.2 300.6
Purchase of concentrate 000 oz 136.0 158.5 85.2
Toll refining (see note 4) 000 oz 14.2 - 17.0
Employees (Managed operations: end of
period)
Own enrolled employees 51 760 50 612 51 675
Contractor employees 7 044 6 241 6 255
Total employees for managed
operations 58 804 56 853 57 930
m² per total operating employee 6.99 5.95 6.12
% Change
June 2012 June
vs 2012 vs
March
June 2011 2012
Production statistics
Tonnes mined - opencast (see note
1) 000 -1% 4%
Tonnes broken - underground mines 000 15% 14%
Tonnes milled 000 2% 2%
per 1
Merensky / UG2 / Other tonnes Merensky
(see note 2) tonne
g/tonne
4E Built-up head grade milled -3% -3%
Merensky reef -5% -2%
UG2 reef -3% -2%
Platreef (Mogalakwena Mine) -13% -11%
MSZ reef (Unki Mine) -7% -2%
Surface sources including WLTR -5% -1%
Equivalent refined platinum
production (see note 3) 000 oz
Own mines and WLTR -1% -6%
Joint ventures - mines 6% 1%
Joint ventures and associates -
purchased 2% 9%
Purchases from third parties -38% 25%
Attributable to Anglo American
Platinum -2% -2%
Total refined production
Platinum 000 oz -3% 55%
Palladium 000 oz -5% 51%
Rhodium 000 oz -6% 39%
Gold 000 oz -23% 0%
PGMs 000 oz -5% 48%
Nickel 000 tonnes -2% 15%
Copper 000 tonnes 0% 14%
Refined platinum production 000 oz -3% 55%
Mining 000 oz -2% 57%
Purchase of concentrate 000 oz -14% 60%
Toll refining (see note 4) 000 oz -16%
Employees (Managed operations: end of period)
Own enrolled employees 2% 0%
Contractor employees 13% 13%
Total employees for managed
operations 3% 2%
m² per total operating employee 17% 14%
Notes:
1. Includes Mogalakwena and Modikwa opencast operations
2. Other tonnes includes both Platreef and other surface sources
3. Mine's production converted to equivalent refined production using
Amplats' standard smelting and refining recoveries
4. Toll refining represents metal refined in respect of the recycling
project and it was returned to the third party
Johannesburg, South Africa
20 July 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
For further information, please contact:
Investors:
Kgapu Mphahlele
+27 (0) 11 373 6239
kgapu.mphahlele@angloamerican.com
Media:
Mary Jane Morifi
+27 (0) 11 373 6638
mary-jane.morifi@angloamerican.com
Mpumi Sithole
+27 (0) 11 373 6246
mpumi.sithole@angloamerican.com
Notes to editors:
Anglo American Platinum Limited is a member of the Anglo American
plc Group and is the world’s leading primary producer of platinum
group metals. The company is listed on the Johannesburg Securities
Exchange (JSE). Its mining, smelting and refining operations are
based in South Africa. Elsewhere in the world, the Group owns Unki
Platinum Mine in Zimbabwe and is actively exploring in Brazil.
Amplats has a number of joint ventures with several historically
disadvantaged South African consortia as part of its commitment to
the transformation of the mining industry. Amplats is committed to
the highest standards of safety and continues to make meaningful
and sustainable difference in the development of the communities
around its operations. www.angloamericanplatinum.com
Anglo American is one of the world’s largest mining companies, is
headquartered in the UK and listed on the London and Johannesburg
stock exchanges. Anglo American’s portfolio of mining businesses
spans bulk commodities – iron ore and manganese, metallurgical
coal and thermal coal; base metals – copper and nickel; and
precious metals and minerals – in which it is a global leader in
both platinum and diamonds. Anglo American is committed to the
highest standards of safety and responsibility across all its
businesses and geographies and to making a sustainable difference
in the development of the communities around its operations. The
company’s mining operations, extensive pipeline of growth projects
and exploration activities span Southern Africa, South America,
Australia, North America, Asia and Europe. www.angloamerican.com
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