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Production Report for the fourth quarter ended 31 December 2014
ANGLO AMERICAN PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
Share Code: AMS
ISIN: ZAE000013181
(“The Company" or "Anglo American Platinum")
ANGLO AMERICAN PLATINUM LIMITED
PRODUCTION REPORT FOR THE FOURTH QUARTER ENDED 31 DECEMBER 2014
OVERVIEW
- Safety performance upheld with zero fatalities in Q4 2014
- Group equivalent refined platinum production increased to 594 koz ,up 14% over Q4 2013 which
was affected by the two week industrial action
- Mogalakwena production increased to 98 koz, an 11% increase due to increased concentrator
throughput, supported by the mining productivity improvement programmes
- Refined platinum production decreased by 17% to 574 koz due to the build-up of pipeline
inventory following the drawdown on inventories during the industrial action and the planned
Polokwane smelter rebuild
- Successful closure of the loss-making Union mine decline section
REVIEW OF THE QUARTER
OPERATIONS
Anglo American Platinum’s managed operations operated fatality free during the quarter. The
underlying safety performance remained strong with the Lost Time Injury Frequency Rate (“LTIFR”) at
managed operations for the quarter ending 9% lower at 0.84 per 200,000 hours worked compared to
the same period in 2013.
Total equivalent refined platinum production (equivalent ounces are mined ounces expressed as
refined ounces) increased by 14% to 594 koz, compared to 520 koz in Q4 2013. Rustenburg
delivered 106koz, 36% higher compared with Q4 2013, Union rose 23% to 43koz from 35 koz and
Amandelbult mines increased 41% to 103 koz from 73 koz. The increase in production was also due
to lower production in Q4 2013 which saw 44 koz of production lost as a result of the two week
industrial action.
Mogalakwena production increased 11% to 98 koz due to increased concentrator throughput,
supported by the mining productivity improvement programmes. Production on-mine increased 9% or
8koz to 93 koz while toll concentrating activities at the Lonmin Baobab concentrator yielded 5koz, a
51% increase due to higher throughput.
Production from the Joint Venture and Associate operations (mined and purchased) decreased by 2%
to 194koz compared to 198koz in Q4 2013. Bokoni performed particularly well and showed an
improvement of 11% and Kroondal also improved with production up 2%. BRPM production was
lower by 6% at 51koz due to the S54 stoppages following fatalities in October 2014 while Mototolo
delivered 30koz, a 10% reduction due to concentrator operational challenges in the quarter which
have now been resolved. Mototolo mine had 260k tonnes of ore stock available for milling at the end
of the quarter which will be milled in 2015.
Refined platinum production decreased 17% to 574 koz. Refined production in Q4 2014 was lower
than normal due to the build-up in pipeline inventory following the drawdown on inventories during the
industrial action in the first half of 2014 and the planned Polokwane Smelter re-build which was
completed ahead of schedule during the quarter and is operating at steady-state. In comparison, Q4
2013 refined production was higher than normal due to the release of pipeline inventory to refined
inventory ahead of the anticipated industrial action.
As part of the ongoing restructuring of the portfolio, the loss-making Union mine decline section was
closed during the quarter, with successful redeployment of employees to fill vacancies at other
operations in the portfolio.
(1) 4E grade is the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold
(2) Built-up head grade is the total 4E grams produced from the concentrating process from concentrate, metallics (where applicable) and tailings,
divided by the total tonnes milled.
ANGLO AMERICAN PLATINUM FOURTH QUARTER PRODUCTION REPORT PERIOD 01 OCTOBER 2014 TO 31 DECEMBER 2014
Unaudited Unaudited Unaudited
Quarter ended Quarter ended Quarter ended
31 December 2014 31 December 2013 30 September 2014
Attributable equivalent refined Pt production (1) 000 oz 594 520 533
Own Mines and WLTR 000 oz 380 311 312
Joint ventures - mined 000 oz 58 60 61
Joint ventures and associates - purchased 000 oz 136 138 143
Third parties - purchased 000 oz 19 12 17
Sale of metal in concentrate 000 oz - - -0
Gross refined production
Platinum 000 oz 574 692 460
Palladium 000 oz 358 428 316
Rhodium 000 oz 72 84 48
Gold 000 oz 29 27 15
PGMs 000 oz 1 120 1 341 909
Nickel - Refined 000 tonne 4.8 5.2 5.2
Nickel - Matte (2) 000 tonne 1.8 0.1 1.8
Copper - Refined 000 tonne 2.6 1.8 2.8
Copper - Matte (2) 000 tonne 1.4 1.4 1.3
Pt from: Mining 000 oz 410 494 306
Purchase of concentrate 000 oz 163 198 152
Toll refining (3) 000 oz - 0 2
Total Operations
Tonnes Milled 000 tonne 10 153 8 816 9 357
Grade (4E) g/t 3.19 3.19 3.06
Merensky milled % 8 7 6
Equivalent refined production 000 oz 594 520 533
Rustenburg Operations excl WLTR
Tonnes Milled 000 tonne 1 802 1 285 1 488
Grade (4E) g/t 3.66 3.75 3.64
Merensky milled % 29 32 27
Equivalent refined production 000 oz 106 78 86
Union Mine
Tonnes Milled 000 tonne 892 762 848
Grade (4E) g/t 3.44 3.24 2.91
Merensky milled % 1 2 1
Equivalent refined production 000 oz 43 35 33
Amandelbult Operations
Tonnes Milled 000 tonne 1 449 981 1 234
Grade (4E) g/t 4.42 4.66 3.78
Merensky milled % 16 15 12
Equivalent refined production 000 oz 103 73 74
Mogalakwena Mine
Tonnes Milled 000 tonne 3 050 2 652 2 853
Grade (4E) g/t 2.99 3.11 2.96
Equivalent refined production 000 oz 98 88 87
Unki Platinum Mine
Tonnes Milled 000 tonne 412 414 408
Grade (4E) g/t 3.02 3.41 3.16
Equivalent refined production 000 oz 15 17 16
Joint Venture Operations - mined (excl POC)
Tonnes Milled 000 tonne 1 136 1 173 1 210
Grade (4E) g/t 3.59 3.64 3.60
Merensky milled % - - -
Equivalent refined production 000 oz 58 60 61
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
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
Note: WLTR refers to Western Limb Tailings Retreatment plant. POC refers to Purchase of Concentrate
Note: 4E Grade is the grade measured as the combined content of the four most valuable precious metals: platinum, palladium, rhodium and gold
Johannesburg, South Africa
28 January 2015
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
For further information, please contact:
Investors: Media:
Emma Chapman Mpumi Sithole
(SA) +27 (0) 11 373 6239 (SA) +27 (0) 11 373 6246
emma.chapman@angloamerican.com 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. Anglo American Platinum 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. Anglo American Platinum 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 a global and diversified mining business that provides the raw materials essential
for economic development and modern life. Our people are at the heart of our business. It is our
people who use the latest technologies to find new resources, plan and build our mines and who mine,
process and move and market our products – from bulk commodities and base metals to precious
metals and diamonds (through De Beers) – to our customers around the world. Our diversified
portfolio of products spans the economic development cycle and, as a responsible miner, we are the
custodians of precious resources. We work together with our key partners and stakeholders to unlock
the long-term value that those resources represent for our shareholders, but also for the communities
and countries in which we operate – creating sustainable value and making a real difference. Our
mining operations, growth projects and exploration and marketing activities extend across southern
Africa, South America, Australia, North America, Asia and Europe.
www.angloamerican.com
Date: 28/01/2015 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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