Wrap Text
Production report for the third quarter ended 30 September 2015
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 THIRD QUARTER ENDED 30 SEPTEMBER 2015
OVERVIEW
- Commitment to zero harm – no fatalities in the period
- Group production of platinum metal in concentrate (see note 1) increased to 614, 000 ounces, up 14% over
the Q3 2014 strike impacted period when the Rustenburg, Amandelbult and Union operations
were ramping up
- Mogalakwena production increased to 90,000 ounces, a 2% increase due to improved mining
performance, recoveries and higher grades
- Refined platinum production increased by 33% to 611,000 ounces compared to the strike affected
Q3 2014
REVIEW OF THE QUARTER
OPERATIONS
Anglo American Platinum remains committed to zero harm and saw an improvement in safety
performance during the period. The Company had no fatalities. The Lost time Injury Frequency Rate
(“LTIFR”) per 200,000 hours at managed operations for the quarter was 0.92, lower than the
normalised LTIFR (adjusting for the strike) of 0.95 for 2014.
Total platinum production increased by 14% to 614,000 ounces compared to 541,000 ounces in Q3
2014, where strike-affected mines were ramping up to normal production during the quarter.
Production increased 6% versus Q2 2015 due to increased throughput, as the third quarter has the
highest number of working days in the year.
Platinum production from own mines and tailings retreatment increased 25% to 395,000 ounces due
to the Rustenburg, Amandelbult and Union operations being strike affected during Q3 2014. Lost
production in Q3 2014 as a result of the ramp-up following the five month long strike which ended 24
June 2014 was approximately 92,000 platinum ounces. In addition, as part of the on-going
optimisation of Union mine, production was 11,000 ounces lower in Q3 2015 following the closure of
the mine declines at the end of 2014.
Mogalakwena production increased by 2% to 90,000 ounces due to higher achieved head grade and
improved recoveries at the concentrator. The mine was impacted by community disruption in the
quarter which led to a loss of production of 9,000 ounces. A pathway to resolve matters with
communities was agreed, production has since recovered and the mine remains on course to meet
full year production guidance of 380,000 ounces.
Rustenburg (including WLTR) increased platinum production from 101,000 ounces to 122,000
ounces; Union mine increased from 34,000 to 38,000 ounces; and Amandelbult increased from
75,000 to 126,000 ounces due to the mines ramping up to normal production in 2014 following the
strike.
Unki mine production was flat at 16,000 ounces for the quarter despite a five day shut down for
general plant maintenance, due to grade optimisation.
Production from the Joint Venture & Associate operations (mined and purchased) was broadly
unchanged at 209,000 ounces.
Refined platinum production increased by 33% to 611,000 ounces, following a return to normal
production after the industrial action and subsequent ramp up in Q3 2014. Refined palladium and
rhodium increased for similar reasons. The mix of metals returned to normal compositions as all
mines produced at normal rates.
OUTLOOK
Full year refined production guidance remains at 2.3 to 2.4 million ounces. Capital expenditure
guidance, comprising of stay in business and project capital expenditure has been revised and will
likely be around R4.0bn for the full year (the lower of our previous guidance range of between R4.0 to
R4.5 billion) as disciplined capital allocation remains a priority. Major project capital decisions have
been postponed to at least 2017. The outlook for unit cost is within the guided range of between
R19,250 to R19,750 per platinum ounce (as guided to the new unit cost metric to be used by the
group).
The above information has not been reviewed or reported on by the Company’s external auditors.
ANGLO AMERICAN PLATINUM
THIRD QUARTER PRODUCTION REPORT
PERIOD 01 JULY 2015 TO 30 SEPTEMBER 2015
Unaudited Unaudited Unaudited
Quarter ended Quarter ended Quarter ended
30 September 2015 30 September 2014 30 June 2015
Attributable Pt production 1 000 oz 614 541 581
Own mines and WLTR 000 oz 395 317 378
Joint ventures - mined 000 oz 62 62 59
Joint ventures and associates - purchased 000 oz 147 145 126
Third parties - purchased 000 oz 11 17 17
Sale of metal in concentrate 000 oz - -0 -
Gross refined production
Platinum 000 oz 611 460 561
Palladium 000 oz 391 316 388
Rhodium 000 oz 78 48 77
Gold 000 oz 23 15 30
PGMs 000 oz 1 221 909 1 150
Nickel - Refined 000 tonne 6.4 5.2 6.0
Nickel - Matte 000 tonne - 1.8 -
Copper - Refined 000 tonne 4.2 2.8 4.0
Copper - Matte2 000 tonne - 1.3 -
Total Operations
Tonnes Milled 000 tonne 10 086 9 357 9 799
Grade (4E) g/t 3.27 3.06 3.27
Merensky milled % 8 6 9
M&C production 000 oz 614 541 581
Mogalakwena mine
Tonnes Milled 000 tonne 2 732 2 853 3 054
Grade (4E) g/t 3.07 2.96 3.04
M&C production 000 oz 90 88 102
Amandelbult mine
Tonnes Milled 000 tonne 1 814 1 234 1 540
Grade (4E) g/t 4.29 3.78 4.14
Merensky milled % 16 12 19
M&C production 000 oz 126 75 103
Unki Platinum mine
Tonnes Milled 000 tonne 396 408 405
Grade (4E) g/t 3.21 3.16 3.10
M&C production 000 oz 16 16 16
Joint Venture Operations - mined (excl POC)
Tonnes Milled 000 tonne 1 190 1 210 1 157
Grade (4E) g/t 3.58 3.60 3.71
Merensky milled % - - -
M&C production 000 oz 62 62 59
Rustenburg mine (incl WLTR)
Tonnes Milled Rustenburg mine 000 tonne 1 947 1 488 1 927
Grade (4E) Rustenburg mine g/t 3.56 3.64 3.53
Merensky milled Rustenburg mine % 27 27 28
M&C production 000 oz 122 101 121
Rustenburg mine 000 oz 112 87 110
Western Limb tailings retreatment 000 oz 10 14 11
Union mine
Tonnes Milled 000 tonne 575 848 557
Grade (4E) g/t 4.16 2.91 3.72
Merensky milled % 4 1 5
M&C production 000 oz 38 34 31
1 Previously reported as equivalent refined production
2 Nickel and copper refined through 3rd parties is now shown as production of nickel matte and copper matte
Note: 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
22 October 2015
Sponsor:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
(Note 1) In keeping with industry benchmarks, production disclosure has been amended to reflect own mine production and purchases of metal in concentrate. Previous disclosure of
own mine production and purchases of metal in concentrate was converted to equivalent refined production using standard smelting and refining recoveries.
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
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