Wrap Text
Anglo American Platinum Limited quarterly review and production report for period 1 October 2012 to 31 December 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 OCTOBER 2012 TO 31 DECEMBER 2012
KEY FEATURES
- Production and costs for 2012 were impacted by the illegal industrial action and the
subsequent ramp up, with 273 koz of equivalent refined platinum production lost
during the fourth quarter of 2012
- Equivalent refined platinum production was down 29% year on year and 34% quarter
on quarter to 416 koz due to the illegal industrial action during the quarter
- Refined platinum production decreased by 1% year on year and increased by 8%
quarter on quarter to 704 koz, as pipeline stocks were processed during the period of
illegal industrial action
REVIEW OF THE QUARTER
Equivalent refined platinum production for the fourth quarter of 2012 decreased by 29% year
on year to 416 koz, from 583 koz during the fourth quarter of 2011.
Equivalent refined platinum production from own operations was 230 koz, down 162 koz or
41% year on year, mainly due to the illegal industrial action at Rustenburg (Bathopele,
Khuseleka, Khomanani, Siphumelele, and Thembelani), Union (North and South) and
Amandelbult (Tumela and Dishaba) mining operations. The illegal industrial action started on
18 September 2012, following the initial safety suspension of operations at Rustenburg
mines on 12 September 2012. The illegal industrial action was initially contained to the
Rustenburg mining operations, before commencing at Union and Amandelbult operations
during the first week of October 2012. The illegal industrial action ended on 15 November
2012, after Rustenburg, Union and Amandelbult employees accepted the terms of the
Companys offer. Mining operations resumed and gradually ramped up, taking due
cognizance of safety, since 16 November 2012.
Platinum production at Mogalakwena decreased by 8% or 6 koz year on year to 71 koz, due
to lower throughput at the concentrators and lower head grade. Unki mines output in the
fourth quarter declined by 14% or 2 koz year on year to 14 koz due to lower grade.
Equivalent refined platinum production from joint ventures and associates, inclusive of both
mined and purchased production, was down 4 koz or 2% year on year at 173 koz during the
fourth quarter. Marikana mine, which was placed on care and maintenance in June 2012,
accounted for 17 koz of the year on year decline in production and the illegal industrial action
at Bokoni resulted in a further 14 koz year on year decline. This decline in output was
partially offset by higher production volumes from Modikwa, BRPM, Kroondal and Mototolo
mines.
Equivalent refined platinum ounces purchased from third parties decreased by 14% year on
year from 14 koz to 12 koz in the fourth quarter of 2012.
Anglo American Platinum confirms that, as a result of the illegal industrial action and the
subsequent ramp up period, which commenced on 16 November 2012, total lost equivalent
refined platinum production, including from joint ventures and associates, has amounted to
273 koz during the fourth quarter of 2012, of which 82 koz were lost during the ramp up
period. As reported in our trading statement released on 14 January 2013, total equivalent
refined platinum production lost in 2012 as a result of the illegal industrial action, including
from joint ventures and associates, amounted to 306 koz.
Refined platinum production, at 704 koz for the fourth quarter, decreased by 1% year on year
and increased by 8% quarter on quarter as pipeline stocks continued to be processed during
the period of illegal industrial action. Refined production of rhodium and nickel decreased by
6% and 24% respectively, while palladium increased by 5%. Palladium and rhodium
variances are a result of a different source mix from operations and different pipeline
processing times for each metal, whilst nickel production was impacted by the illegal
industrial action and the ongoing technical challenges in the new nickel tank house at the
base metals refinery.
ANGLO AMERICAN PLATINUM
FOURTH QUARTER PRODUCTION REPORT
PERIOD 01 OCTOBER 2012 TO 31 DECEMBER 2012
Unaudited Unaudited
Quarter ended Quarter ended
31 Dec 2012 31 Dec 2011
Attributable equivalent refined Pt production (see
note 1) 000 oz 416 583
Own Mines and WLTR 000 oz 230 392
Joint ventures - mined 000 oz 63 61
Joint ventures and associates - purchased 000 oz 110 117
Third parties - purchased 000 oz 12 14
Gross refined production
Platinum 000 oz 704 710
Palladium 000 oz 413 393
Rhodium 000 oz 91 97
Gold 000 oz 19 28
PGMs 000 oz 1 365 1 353
000
Nickel tonne 3.9 5.1
000
Copper tonne 2.5 2.9
Pt
from: Mining 000 oz 512 561
Purchase of concentrate 000 oz 185 149
Toll refining(see note
2) 000 oz 7 -
Pt Pipeline stock adjustment 000 oz - -
Pipeline
movement 000 oz -280 -127
Total Operations
000
Tonnes Milled tonne 7 035 10 098
Grade (4E) g/t 3.22 3.27
Merensky milled % 6 10
Equivalent refined production 000 oz 416 583
Rustenburg Operations excl WLTR
000
Tonnes Milled tonne 978 2 237
Grade (4E) g/t 3.46 3.81
Merensky milled % 30 33
Equivalent refined production 000 oz 54 140
Union Operations
000
Tonnes Milled tonne 487 1 046
Grade (4E) g/t 3.18 3.30
Merensky milled % 1 3
Equivalent refined production 000 oz 21 53
Amandelbult Operations
000
Tonnes Milled tonne 641 1 449
Grade (4E) g/t 5.70 4.15
Merensky milled % 16 17
Equivalent refined production 000 oz 59 97
Mogalakwena Mine
000
Tonnes Milled tonne 2 525 2 580
Grade (4E) g/t 2.82 2.86
Equivalent refined production 000 oz 71 77
Unki Platinum
Mine
000
Tonnes Milled tonne 379 442
Grade (4E) g/t 3.37 3.78
Equivalent refined production 000 oz 14 16
Joint Venture Operations - mined (excl POC)
000
Tonnes Milled tonne 1 144 1 222
Grade (4E) g/t 3.86 3.79
Merensky milled % - -
Equivalent refined production 000 oz 63 61
Prices achieved
Platinum $/oz 1 595 1 536
Palladium $/oz 648 635
Rhodium $/oz 1 140 1 621
Nickel $/tonne 16 891 18 702
Average exchange rate R/$ 8.70 8.14
Cash operating cost / equivalent refined Pt oz R 23 001 14 969
Unaudited Unaudited
Twelve months Twelve months
31 Dec 2012 31 Dec 2011
Attributable equivalent refined Pt production (see
note 1) 000 oz 2 219 2 410
Own Mines and WLTR 000 oz 1 458 1 602
Joint ventures - mined 000 oz 239 245
Joint ventures and associates - purchased 000 oz 466 484
Third parties - purchased 000 oz 56 79
Gross refined production
Platinum 000 oz 2 379 2 530
Palladium 000 oz 1 396 1 431
Rhodium 000 oz 311 338
Gold 000 oz 105 105
PGMs 000 oz 4 641 4 887
000
Nickel tonne 17.7 20.3
000
Copper tonne 11.4 12.8
Pt
from: Mining 000 oz 1 773 1 943
Purchase of concentrate 000 oz 556 587
Toll refining (see note
2) 000 oz 49 -
Pt Pipeline stock adjustment 000 oz 138 36
Pipeline
movement 000 oz 28 -85
Total Operations
000
Tonnes Milled tonne 38 677 41 507
Grade (4E) g/t 3.20 3.24
Merensky milled % 10 11
Equivalent refined production 000 oz 2 219 2 410
Rustenburg Operations excl WLTR
000
Tonnes Milled tonne 8 232 8 710
Grade (4E) g/t 3.66 3.73
Merensky milled % 33 33
Equivalent refined production 000 oz 490 533
Union Operations
000
Tonnes Milled tonne 3 919 4 786
Grade (4E) g/t 3.37 3.39
Merensky milled % 2 4
Equivalent refined production 000 oz 196 254
Amandelbult Operations
000
Tonnes Milled tonne 5 149 6 057
Grade (4E) g/t 4.45 4.18
Merensky milled % 19 22
Equivalent refined production 000 oz 362 414
Mogalakwena Mine
000
Tonnes Milled tonne 10 480 10 835
Grade (4E) g/t 2.81 2.91
Equivalent refined production 000 oz 300 306
Unki Platinum
Mine
000
Tonnes Milled tonne 1 535 1 284
Grade (4E) g/t 3.43 3.64
Equivalent refined production 000 oz 62 52
Joint Venture Operations - mined (excl POC)
000
Tonnes Milled tonne 4 479 4 828
Grade (4E) g/t 3.75 3.74
Merensky milled % 0 -
Equivalent refined production 000 oz 239 245
Prices achieved
Platinum $/oz 1 532 1 707
Palladium $/oz 640 735
Rhodium $/oz 1 264 2 015
Nickel $/tonne 17 105 23 148
Average exchange rate R/$ 8.22 7.26
Cash operating cost / equivalent refined Pt oz R 16 364 13 552
Notes:
1. Mine's production converted to equivalent refined production using Amplats' standard smelting and refining
recoveries
2. Toll refining represents metal refined in respect of the recycling project and it was returned to the third party
3. Grades and production are reflected inclusive of low grade surface material at operations
Johannesburg, South Africa
25 January 2013
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
For further information, please contact:
Investors: Media:
Kgapu Mphahlele Mary Jane Morifi
+27 (0) 11 373 6239 +27 (0) 11 373 6638
kgapu.mphahlele@angloamerican.com 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
worlds 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 worlds largest mining companies, is headquartered in the UK
and listed on the London and Johannesburg stock exchanges. Anglo Americans 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 companys mining operations, extensive pipeline of growth projects and
exploration activities span Southern Africa, South America, Australia, North America, Asia
and Europe. www.angloamerican.com
Date: 25/01/2013 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
