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Trading statement for the six months ended 30 June 2017
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")
TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017
Anglo American Platinum will release results for the six months ended 30 June 2017 (“the period”) on the
Johannesburg Stock Exchange News Service (“SENS”) on 24 July 2017.
With reference to the Listings Requirements of the JSE Limited, companies are required to publish a
trading statement as soon as they become reasonably certain that the financial results for the period to be
reported on next will differ by at least 20% from those of the previous corresponding reporting period.
Anglo American Platinum advises shareholders, with reasonable certainty, that headline earnings and
headline earnings per share (“HEPS”) for the six months ended 30 June 2017 will be at least 20% (R329
million or 126 cents per share) lower than the comparative reporting period for the six months ended 30
June 2016 (“the comparative period”). Restated headline earnings and HEPS for the comparative period
were R1.65 billion and 629 cents respectively. Basic earnings and basic earnings per share (“EPS”) will
also be at least 20% (R312 million or 118 cents per share) lower than the comparative period. Restated
basic earnings and EPS for the comparative period were R1.54 billion and 589 cents respectively.
Shareholders are reminded that the comparative period financial results were restated in the 2016 Annual
Results. For reference, reported headline earnings and HEPS for the comparative period before
restatement were R1.04 billion and 399 cents respectively, and reported basic earnings and EPS for the
comparative period before restatement were R938 million and 358 cents respectively.
The expected decrease in headline earnings and basic earnings is primarily a result of the stronger rand.
The build-up of work-in-progress material of 65,000 platinum ounces as a result of the rebuild of Waterval
Furnace Number 1 in Q4 2016, followed by the planned rebuild of Waterval Furnace Number 2 in Q1 2017
will result in this material being refined in H2 2017 as expected. Waterval Furnace Number 2 is operating
at steady state. In addition, a high pressure water leak at the Converter Plant (“ACP”) impacted one
converter plant (Phase A) of the operation on 4 June 2017, towards the end of the period. A second
converter plant (Phase B) was heated up and returned to steady state production on 14 June 2017. The
time required to reheat Phase B created a build-up of work-in-progress material which will delay c.90,000
ounces of refined platinum production from the period into H2 2017. There is no impact to full year
production, with guidance maintained at metal in concentrate production of between 2.35 – 2.40 million
ounces.
There is currently insufficient certainty to enable the Company to provide specific guidance on its expected
results and it is anticipated that Anglo American Platinum will publish a further trading statement closer to
the release of its interim financial results which will be released on 24 July 2017 on the Stock Exchange
News Service.
The financial information on which this trading statement is based has not been reviewed and reported on
by the Company’s external auditors.
Johannesburg
27 June 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
For further information, please contact:
Investors:
Emma Chapman
Head of Investor Relations
Tel: +27 (0)11 373 6239
emma.chapman@angloamerican.com
Media:
Mpumi Sithole
Tel: +27 (0)11 373 6246
mpumi.sithole@angloamerican.com
About Anglo American Platinum
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 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 to our customers around the world.
As a responsible miner - of diamonds (through De Beers), platinum and other precious metals, copper,
nickel, iron ore and coal - we are the custodians of what are precious natural resources. We work together
with our key partners and stakeholders to unlock the long-term value that those resources represent for
our shareholders and for the communities and countries in which we operate – creating sustainable value
and making a real difference.
www.angloamerican.com
Date: 27/06/2017 10:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
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