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Anglo American Platinum Limited quarterly review and production report for the period 01 April 2013 to 30 June 2013
ANGLO AMERICAN PLATINUM LIMITED
Incorporated in the Republic of South Africa
Registration number 1946/022452/06
Share code: AMS
ISIN: ZAE000013181
(“the Company” or “Amplats”)
ANGLO AMERICAN PLATINUM LIMITED QUARTERLY REVIEW AND PRODUCTION
REPORT FOR THE PERIOD 01 APRIL 2013 TO 30 JUNE 2013
KEY FEATURES
- Own operations fatality free
- Group equivalent refined platinum production of 594 koz, up 2%
- Equivalent refined platinum production from own mines of 397 koz, up 2%
- Equivalent refined platinum production from operating joint ventures and associates
of 182 koz, up 8%
- Refined platinum production of 582 koz, down 7%
REVIEW OF THE QUARTER
Equivalent refined platinum production (equivalent ounces are mined ounces expressed as
refined ounces) for the second quarter of 2013 increased by 2% year-on-year to 594 koz
from 583 koz during the second quarter of 2012.
Equivalent refined platinum production from own operations was 397 koz, up 2% year-on-
year. Underground mining performance was principally impacted by the intermittent illegal
industrial actions, the national bus driver strike which impacted employees’ ability to
commute to work and safety stoppages. This was exacerbated by the lack of flexibility in the
current labour environment to redeploy employees to operations where there are skills
shortages. Despite these events, equivalent refined platinum production at the Rustenburg
mines (Bathopele, Khuseleka, Khomanani, Siphumelele and Thembelani) and Amandelbult
mines (Tumela and Dishaba) increased by 6,218 ounces and 5,057 ounces respectively.
Mogalakwena mine produced 3,626 ounces more than the same period in 2012 while new
production from Twickenham mine was 1,518 platinum ounces. Production from Unki was
flat year on year at 15 koz. The positive contributions to production were offset by lower
production from Union mines which was down 21% or 12,527 ounces year-on-year for the
same reasons as underground mining performance.
Production at Western Limb Tailings Retreatment (WLTR) increased by 3,452 ounces or
29% largely driven by increased tonnes milled, improved head grades and recoveries.
Equivalent refined platinum production from joint ventures and associates, inclusive of both
mined and purchased production, was up 2% year-on-year to 182 koz during the second
quarter of 2013. Equivalent refined platinum production in the second quarter of 2012
included 11 koz from non-managed Marikana joint venture which was placed on care and
maintenance in June 2012; on a comparative basis, excluding non-managed Marikana joint
venture, operating mines improved production by 14 koz or 8% year on year. Production at
Bokoni improved by 25% year-on-year following the implementation of operational
improvement initiatives while the conversion to owner mining and a revised support regime at
Kroondal resulted in a 25% increase in production over the same period.
Equivalent refined platinum ounces purchased from third parties increased from 15 koz to 16
koz in the second quarter of 2013.
Refined platinum production decreased by 7% year-on-year to 582 koz due to three separate
production incidents at the converting plant in April 2013 which resulted in lower output into
the refinery. The incidents were resolved and the converting plant operated at steady state
level by the end of the quarter. Refined platinum production was up 33% on the first quarter
of 2013.
Refined production of palladium and rhodium decreased by 10% and 7% year-on-year
respectively. Palladium and rhodium variances are a result of a different source mix from
operations and different pipeline processing times for each metal. Nickel production
continued to be affected by technical challenges in the new nickel tank house, however,
production improved in the second quarter as the company sold nickel in matte to a third
party during the quarter. Anglo American Platinum sold 5,389 tonnes of nickel in matte and
4,134 tonnes of copper matte to a third party during the second quarter of 2013.
ANGLO AMERICAN PLATINUM
FIRST QUARTER PRODUCTION REPORT
PERIOD 01 APRIL 2013 TO 30 JUNE 2013
Unaudited Unaudited Unaudited
Quarter ended Quarter ended Quarter ended
30 June 2013 30 June 2012 31 Mar 2013
Attributable equivalent refined Pt production
(see note 1) 000 oz 594 584 583
Own Mines and WLTR 000 oz 397 390 390
Joint ventures - mined 000 oz 58 58 57
Joint ventures and associates - purchased 000 oz 124 121 117
Third parties - purchased 000 oz 16 15 19
Gross refined production
Platinum 000 oz 582 623 439
Palladium 000 oz 320 356 264
Rhodium 000 oz 70 75 57
Gold 000 oz 16 24 23
PGMs 000 oz 1 101 1 187 874
Nickel - Refined 000 tonne 3.4 5.4 3.3
Nickel – Matte (see note 2) 000 tonne 5.4 - -
Copper – Refined 000 tonne 1.9 3.3 2.0
Copper – Matte (see note 2) 000 tonne 4.1 - -
Pt from: Mining 000 oz 443 473 321
Purchase of concentrate 000 oz 139 136 115
Toll refining (see note 3) 000 oz 0 14 3
Total Operations
Tonnes Milled 000 tonne 10 330 10 632 10 072
Grade (4E) g/t 3.24 3.09 3.24
Merensky milled % 11 11 11
Equivalent refined production 000 oz 594 584 583
Rustenburg Operations excl WLTR
Tonnes Milled 000 tonne 2 481 2 468 2 422
Grade (4E) g/t 3.78 3.63 3.63
Merensky milled % 34 34 35
Equivalent refined production 000 oz 151 145 142
Union Operations
Tonnes Milled 000 tonne 1 019 1 088 1 043
Grade (4E) g/t 3.26 3.58 3.39
Merensky milled % 1 1 1
Equivalent refined production 000 oz 47 59 50
Amandelbult Operations
Tonnes Milled 000 tonne 1 290 1 440 1 159
Grade (4E) g/t 4.42 3.75 4.41
Merensky milled % 18 21 18
Equivalent refined production 000 oz 89 84 81
Mogalakwena Mine
Tonnes Milled 000 tonne 2 639 2 775 2 772
Grade (4E) g/t 2.83 2.63 2.91
Equivalent refined production 000 oz 78 74 87
Unki Platinum Mine
Tonnes Milled 000 tonne 393 378 362
Grade (4E) g/t 3.45 3.45 3.44
Equivalent refined production 000 oz 15 15 14
Joint Venture Operations - mined (excl POC)
Tonnes Milled 000 tonne 1 140 1 128 1 098
Grade (4E) g/t 3.63 3.74 3.69
Merensky milled % - - -
Equivalent refined production 000 oz 58 58 57
Cash operating cost / equivalent refined Pt oz R 16 674 15 465 15 887
Notes:
1 Mine's production converted to equivalent refined production using Amplats' standard smelting and refining recoveries
2 Nickel and copper refined through 3rd parties is now shown as production of nickel matte and copper matte. Nickel matte production represents
3.2kt in H1 2013, and 2.2kt from prior periods. Copper matte production represents 2.4kt in H1 2013, and 1.7kt from prior periods.
3 Toll refining represents metal refined in respect of the recycling project and it was returned to the third party
4 Grades and production are reflected inclusive of low grade surface material at operations
Johannesburg, South Africa
18 July 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
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
Date: 18/07/2013 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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