Wrap Text
Production report for the fourth quarter ended 31 December 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")
PRODUCTION REPORT FOR THE FOURTH QUARTER ENDED 31 DECEMBER 2015
OVERVIEW
- Commitment to zero harm – no fatalities in the period
Group platinum production (expressed as metal in concentrate) (see note 1 below) was largely constant year-on-
year at 598,000 ounces with operational improvements at own operations, offset by a reduction in
purchase of concentrate ounces from third parties
- Amandelbult production increased by 13% due to improved mining efficiencies, increased
concentrator recoveries and the start-up of opencast mining
- Refined platinum production increased by 30% to 745,000 ounces, following a return to normal
production after the industrial action, as well as processing pipeline inventory
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 0.95, the same compared to
the normalised LTIFR (adjusting for the strike) for 2014.
Total platinum production was largely constant at 598,000 ounces compared to 603,000 ounces in Q4
2014, with operational improvements at own and joint venture operations, offset by a reduction in
purchase of concentrate ounces from third parties. Seasonally, production in the fourth quarter is
lower in the third quarter due to less production shifts than the third quarter.
Platinum production from own mines and tailings retreatment increased to 398,000 ounces from
389,000 ounces due to higher production from Amandelbult and Unki, partially offset by lower
production at Union and Rustenburg.
Amandelbult production increased from 106,000 to 121,000 ounces due to improved mining
efficiencies, increased concentrator recoveries and the start-up of opencast mining. Production from
Unki increased to 19,000 from 15,000 ounces due to improved mining efficiencies and plant
performance, whilst Mogalakwena production was largely flat at 98,000 ounces.
Rustenburg (including Western Limb Tailings Retreatment) platinum production decreased from
122,000 ounces to 118,000 ounces due to lower production from lower achieved grade and safety
related stoppages. Production from Union decreased from 43,000 to 38,000 ounces, mainly due to
the closure of the decline section in Q4 2014.
Independently managed production (mined and purchased) excluding third party purchases of
concentrate, was broadly unchanged at 199,000 ounces.
Refined platinum production increased by 30% to 745,000 ounces, following a return to normal
production after the industrial action and subsequent ramp up in Q3 2014 and processed pipeline
inventory. Refined palladium and rhodium increased for similar reasons. The mix of metals returned to
normal compositions as all mines produced at normal rates.
Base metal tonnes increased 14% due to Q4 2014 being impacted by the ramp-up to normal
production following the strike, as well as an improved and stable operational performance of the
Base Metal Refinery. There was no third party tolling in Q4 2015 as all the stockpiles of Nickel and
Copper Matte accumulated during the expansion and subsequent ramp-up of the BMR have been
depleted.
(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.
ANGLO AMERICAN PLATINUM
FOURTH QUARTER PRODUCTION REPORT
PERIOD 01 OCTOBER 2015 TO 31 DECEMBER 2015
Unaudited Unaudited Q4 2015 Unaudited Q4 2015 Unaudited Unaudited 2015
Quarter ended Quarter ended vs Quarter ended vs Twelve months Twelve months vs
Dec 2015 Dec 2014 Q4 2014 Sep 2015 Q3 2015 Dec 2015 Dec 2014 2014
Attributable Pt production (See Note 1 under table) 000 oz 598 603 (1)% 614 (3)% 2,337 1,870 25%
Own mines and WLTR 000 oz 398 389 2% 398 (0)% 1,536 1,040 48%
Joint ventures - mined 000 oz 63 59 6% 62 1% 241 241 0%
Joint ventures and associates - purchased 000 oz 136 138 (1)% 147 (7)% 527 539 (2)%
Third parties - purchased 000 oz 1 16 (94)% 7 (85)% 33 55 (40)%
Sale of metal in concentrate 000 oz - - - - -5 (100)%
Gross refined production
Platinum 000 oz 745 574 30% 611 22% 2,459 1,890 30%
Palladium 000 oz 468 358 31% 391 20% 1,595 1,225 30%
Rhodium 000 oz 86 72 20% 78 10% 305 229 33%
Gold 000 oz 30 29 2% 23 28% 113 96 18%
PGMs 000 oz 1,436 1,120 28% 1,221 18% 4,868 3,735 30%
Nickel - Refined 000 tonne 7.3 4.8 52% 6.4 14% 25.4 20.5 24%
Nickel - Matte (See note 2 under table) 000 tonne - 1.8 (100)% - 0.4 7.7 (95)%
Copper - Refined 000 tonne 4.7 2.6 81% 4.2 12% 16.8 12.5 34%
Copper - Matte (See note 2 under table) 000 tonne - 1.4 (100)% - 0.3 6.2 (95)%
Total Operations
Tonnes Milled 000 tonne 10,357 10,153 2% 10,086 3% 39,849 32,995 21%
Grade (4E) g/t 3.24 3.19 2% 3.27 (1)% 3.23 3.00 8%
Merensky milled % 7 8 (4)% 8 (12)% 8 5 71%
M&C production 000 oz 598 603 (1)% 614 (3)% 2,337 1,870 25%
Mogalakwena mine
Tonnes Milled 000 tonne 3,046 3,050 (0)% 2,732 11% 11,725 11,731 (0)%
Grade (4E) g/t 3.05 2.99 2% 3.07 (0)% 3.09 3.03 2%
M&C production 000 oz 98 100 (1)% 90 10% 392 375 5%
Amandelbult mine
Tonnes Milled 000 tonne 1,782 1,449 23% 1,814 (2)% 6,501 3,470 87%
Grade (4E) g/t 4.20 4.42 (5)% 4.29 (2)% 4.12 3.83 8%
Merensky milled % 16 16 (4)% 16 (3)% 17 13 29%
M&C production 000 oz 121 106 14% 128 (5)% 437 219 100%
Unki Platinum mine
Tonnes Milled 000 tonne 442 412 7% 396 12% 1,656 1,598 4%
Grade (4E) g/t 3.44 3.02 14% 3.21 7% 3.22 3.10 4%
M&C production 000 oz 19 15 20% 16 18% 66 62 7%
Joint Venture Operations - mined (excl POC)
Tonnes Milled 000 tonne 1,162 1,136 2% 1,190 (2)% 4,585 4,717 (3)%
Grade (4E) g/t 3.77 3.59 5% 3.58 5% 3.67 3.59 2%
Merensky milled % - - - - 1 (100)%
M&C production 000 oz 63 59 6% 62 1% 241 241 0%
Rustenburg mine (incl WLTR)
Tonnes Milled Rustenburg mine 000 tonne 1,788 1,802 (1)% 1,947 (8)% 7,509 4,080 84%
Grade (4E) Rustenburg mine g/t 3.55 3.66 (3)% 3.56 (0)% 3.56 3.50 2%
Merensky milled Rustenburg mine % 26 29 (12)% 27 (5)% 28 25 10%
M&C production 000 oz 118 122 (3)% 124 (5)% 485 284 71%
Union mine
Tonnes Milled Union mine 000 tonne 607 892 (32)% 575 6% 2,312 2,007 15%
Grade (4E) g/t 4.02 3.44 17% 4.16 (3)% 3.93 3.13 26%
Merensky milled % 4 1 167% 4 3% 4 2 73%
M&C production 000 oz 38 43 (13)% 38 1% 141 88 60%
(Note 1) Previously reported as equivalent refined production
(Note 2) Nickel and copper refined through 3rd parties is 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
ANGLO AMERICAN PLATINUM
ACHIEVED PRICES SUMMARY
FY2015 H2 2015
FY 2015 FY 2014 vs H2 2015 H1 2015 vs
FY2014 H1 2015
PGMs
Platinum (US$/oz) 1,051 1,386 (24)% 955 1,160 (18)%
Palladium (US$/oz) 703 803 (12)% 631 779 (19)%
Rhodium (US$/oz) 958 1,147 (16)% 786 1,133 (31)%
Basket price (US$/oz) 1,905 2,413 (21)% 1,682 2,157 (22)%
Basket price (ZAR/oz) 24,203 26,219 (8)% 22,837 25,748 (11)%
Johannesburg, South Africa
28 January 2016
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. 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: 28/01/2016 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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