Wrap Text
Production report for the second quarter ended 30 June 2016
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 SECOND QUARTER ENDED 30 JUNE 2016
OVERVIEW
Tragically, 3 fatalities occurred during the quarter
Group platinum production (expressed as metal in concentrate) was marginally higher than the comparative period in 2015 at 586,000 ounces
Strong operational performances achieved by Unki, Union and the joint ventures operations
Refined platinum production increased by 33% to 748,000 ounces for the quarter, reflecting the recovery at the Precious Metals Refinery after a planned
stock take and safety stoppage in Q1 2016
REVIEW OF THE QUARTER
OPERATIONS
Tragically we had three losses of life due to work related incidents during the second quarter of 2016. Mr Mlamuli Kubheka and Mr Mveliso Ntamehlo were
fatally injured in a winch related incident at Amandelbult mine on 26 April 2016 and Mr Tamsanqa Ngqambiya sustained fatal injuries in a fall of ground at
Rustenburg Mine on 3 June 2016. Our condolences go to the families, friends and colleagues of Mr Kubheka, Mr Ntamehlo and Mr Ngqambiya. These tragic
incidents came after a record fatality-free period of 323 days highlighting the Company's focus on improving safety.
The Lost Time Injury Frequency Rate ("LTIFR") per 200,000 hours worked at managed operations reduced 35% to 0.72 compared to the LTIFR of 1.11 of Q2
2015.
Total platinum production was up 1% to 586,000 ounces as a result of improved performances during the quarter at Unki, Union and the joint venture
operations.
Mogalakwena increased total milled volumes by 6% in Q2 2016, however a return to normalised lower grades resulted in a 3% decrease in platinum production
to 99,000 ounces.
Amandelbult production increased 1% to 106,000 ounces. This strong mining performance was offset by a single incident on 26 April 2016 that resulted in two
fatalities, and the subsequent mine stoppage which resulted in a loss of 18,000 ounces.
Unki production increased by 12% to 18,000 ounces for the period. The increased production was due to improved underground mining efficiencies which
resulted in increased milled volume, and a 9% increase in grade due to improved mining height control.
Joint venture production (mined and purchased) increased 9% to 203,000 ounces due to strong production performances from Modikwa, Mototolo, BRPM and
Kroondal which was partly offset by Bokoni. Production at Bokoni decreased by 14% as a result of community unrest causing 10 days production loss.
Platinum production from Rustenburg operations including the Western Limb Tailings Retreatment (WLTR) was down 8% to 112,000 ounces. Mine production was
lower due to the impact of the Section 54 safety stoppage associated with the fatality, mining through difficult ground areas, and
marginally lower grade. WLTR increased 27% to 14,000 ounces in part due to new production from the East tailings dams.
Following the significant restructuring at Union, the mine continued to improve performance against its optimised mine plan with production 31% higher at
41,000 ounces mainly due to improved underground mining efficiencies and increased stability at the concentrator plant.
Refined platinum production increased by 33% to 748,000 ounces. The increase is a result of refining the backlog of production not processed in Q1 2016 as
a result of a planned stock take at the PMR and a Section 54 Stoppage which closed the PMR for 12 days, and materially impacted production for a further 37
days. The remainder of the shortfall in refined production will be caught up in H2 2016.
Anglo American Platinum 2016 Q2 2016 Q2
Second Quarter Production Report 2016 2015 vs 2016 vs
Period 01 April 2016 - 30 June 2016 Q2 Q2 2015 Q2 Q1 2016 Q1
Attributable Pt production
Total Production 000 oz 586 581 1% 567 3%
Own mines 000 oz 225 228 (1)% 240 (6)%
Joint ventures - mined volume 000 oz 67 59 13% 61 10%
Joint ventures and associates - purchased 000 oz 136 126 8% 124 10%
Third parties - purchased 000 oz 4 13 (68)% 2 167%
Rustenburg (incl. WLTR) and Union 000 oz 154 154 (0)% 141 9%
Gross refined production
Platinum 000 oz 748 561 33% 261 187%
Palladium 000 oz 472 388 22% 182 160%
Rhodium 000 oz 91 77 18% 48 90%
Gold 000 oz 22 30 (27)% 28 (20)%
Platinum group metals (6E) plus Gold 000 oz 1 486 1 180 26% 622 139%
Nickel - Refined 000 tonne 6.4 6.0 8% 5.7 13%
Copper - Refined 000 tonne 3.7 4.0 (8)% 3.3 13%
Platinum Sales Volumes
Total Sales 000 oz 808 636 27% 413 96%
Total Operations
Tonnes Milled 000 tonne 10 988 9 799 12% 10 466 5%
Grade (4E) g/t 3.00 3.27 (8)% 3.11 (4)%
M&C production 000 oz 585.7 580.9 1% 567.0 3%
Mogalakwena mine
Tonnes Milled 000 tonne 3 224 3 054 6% 3 099 4%
Grade (4E) g/t 2.82 3.04 (7)% 3.26 (14)%
M&C production 000 oz 98.8 102.3 (3)% 109.0 (9)%
Amandelbult mine
Tonnes Milled 000 tonne 1 693 1 540 10% 1 752 (3)%
Grade (4E) g/t 3.91 4.14 (6)% 3.88 1%
M&C production 000 oz 106.2 105.4 1% 110.9 (4)%
Unki Platinum mine
Tonnes Milled 000 tonne 426 405 5% 429 (1)%
Grade (4E) g/t 3.38 3.10 9% 3.42 (1)%
M&C production 000 oz 17.8 15.9 12% 18.6 (5)%
Joint Venture Operations - mined (excl POC)
Tonnes Milled 000 tonne 1 233 1 157 7% 1 123 10%
Grade (4E) g/t 3.75 3.71 1% 3.71 1%
M&C production 000 oz 66.8 59.3 13% 60.9 10%
Rustenburg mine (excluding Western limb tailings retreatment)
Tonnes Milled 000 tonne 1 700 1 927 (12)% 1 667 2%
Grade (4E) g/t 3.53 3.53 0% 3.46 2%
M&C production 000 oz 98.3 111.6 (12)% 94.5 4%
Western Limb tailings retreatment
Tonnes Milled 000 tonne 1 940 1 055 84% 1 790 8%
Grade (4E) g/t 1.15 1.39 (18)% 1.05 10%
M&C production 000 oz 14.0 11.0 27% 11.8 19%
Union mine
Tonnes Milled 000 tonne 716 557 28% 576 24%
Grade (4E) g/t 3.77 3.72 1% 3.88 (3)%
M&C production 000 oz 41.2 31.4 31% 34.3 20%
Achieved metal prices
Platinum (USD/oz) 1 006 1 133 (11)% 903 11%
Palladium (USD/oz) 571 772 (26)% 522 9%
Rhodium (USD/oz) 693 1 088 (36)% 663 4%
Realised basket price (USD/Pt oz) 1 560 2 144 (27)% 1 529 2%
Realised basket price (ZAR/Pt oz) 23 583 25 840 (9)% 24 218 (3)%
Johannesburg, South Africa
20 July 2016
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
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 a meaningful and sustainable difference in the development of the communities around its operations.
www.angloamericanplatinum.com
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the
raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. 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
diamonds (through De Beers) to platinum and other precious metals and copper - to our customers around the world.
As a responsible miner, we are the custodians of those 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.
www.angloamerican.com
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