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PGM Production Report for the third Quarter Ending 30 September 2019
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")
22 October 2019
ANGLO AMERICAN PLATINUM LIMITED
PGM PRODUCTION REPORT FOR THE THIRD QUARTER ENDING 30 SEPTEMBER 2019
OVERVIEW
- Commitment to elimination of fatalities – no fatalities occurred in Q3 2019
- Total PGM production (expressed as 5E+Au metal in concentrate) in line with prior year at 1,141,200
ounces, (excluding Sibanye-Stillwater material)
- Own managed mines PGM production increased by 1% to 642,500 ounces due to increased production
from Mogalakwena and Unki
- Joint venture PGM production (mined and purchase of concentrate, excluding Mototolo) increased by 1%
to 248,200 ounces due to higher volume from Kroondal, despite a weak performance from Modikwa
- Purchase of PGM concentrate from third parties (excluding 4E toll treated material) decreased by 5% to
250,500 ounces due to lower volumes received from BRPM and Siyanda
- Refined PGM production including tolling increased by 26% to 1,360,700 ounces due to improved
processing operational performance
- PGM sales volumes excluding tolling were marginally down 2% to 1,022,900 ounces due to lower minor
metal sales
- 2019 production guidance (metal in concentrate) remains unchanged at 4.2 – 4.5 million PGM ounces
Anglo American Platinum Q3 2019 Q3 2019 YTD YTD YTD 2019
PGM Production Report - Q3 2019 Q3 Q2 Q1 Q4 Q3 vs vs September September vs
1 July 2019 - 30 September 2019 2019 2019 2019 2018 2018 Q3 2018 Q2 2019 2019 2018 YTD 2018
Total M&C production (mined and purchase of concentrate)
Total PGM production (5E + Au)(1) 000 oz 1,141.2 1,118.7 1,028.2 1,061.9 1,146.0 (0)% 2% 3,288.2 3,347.6 (2)%
Own managed mines (2) 000 oz 642.5 633.6 600.9 558.6 636.9 1% 1% 1,877.0 1,960.7 (4)%
Mogalakwena 000 oz 287.7 302.5 307.2 256.8 271.8 6% (5)% 897.4 913.2 (2)%
Amandelbult 000 oz 232.9 229.0 192.8 190.8 245.4 (5)% 2% 654.6 678.1 (3)%
Unki 000 oz 53.8 52.5 43.3 49.7 50.4 7% 2% 149.6 143.0 4%
Mototolo 000 oz 68.1 49.6 57.7 61.2 69.2 (2)% 37% 175.4 226.4 (24)%
Joint venture production(3) 000 oz 248.2 228.2 210.4 259.0 245.1 1% 9% 686.8 695.1 (1)%
Third party purchase of concentrate(4) 000 oz 250.5 256.9 216.9 244.3 264.1 (5)% (2)% 724.3 691.8 5%
Total PGM production (incl. 4E POC now tolled)(5) 000 oz 1,141.2 1,118.7 1,028.2 1,257.1 1,345.7 (15)% 2% 3,288.2 3,929.6 (16)%
4E purchase of concentrate now tolled 000 oz - - - 195.2 199.7 (100)% - - 582.0 (100)%
Refined production
Total refined PGM (5E+Au) production (including tolling) 000 oz 1,360.7 1,426.9 871.2 1,528.2 1,079.6 26% (5)% 3,658.9 3,256.7 12%
Total refined PGM (5E+Au) production (excluding tolling) 000 oz 1,192.0 1,273.5 871.2 1,528.2 1,079.6 10% (6)% 3,336.8 3,256.7 2%
Sales volume excluding trading
Total PGM sales (5E+Au) 000 oz 1,048.4 1,275.1 884.9 1,507.2 1,208.9 (13)% (18)% 3,208.4 3,717.7 (14)%
PGM sales excluding 4E POC sales now tolled in all periods (5E+Au) (6) 000 oz 1,022.9 1,205.6 786.6 1,274.0 1,041.0 (2)% (15)% 3,015.0 3,188.6 (5)%
(1) Total PGM production is normalised to exclude Sibanye-Stillwater 4E ounces in all periods
(2) Own managed mines include Mototolo on 100% basis in all periods
(3) Total Joint venture PGM production (mined and purchase of concentrate) adjusted to exclude Mototolo mine
(4) Third party purchase of concentrate adjusted to exclude Sibanye-Stillwater 4E production in all periods
(5) Total PGM production (incl. 4E POC production now tolled) includes Sibanye-Stillwater 4E production in all periods
(6) PGM sales volume excluding Sibanye-Stillwater 4E POC in all periods
REVIEW OF THE QUARTER
SAFETY
Anglo American Platinum remains committed to the elimination of fatalities and reports zero fatalities in the
period. Managed operations continue to be fatal free for the year-to-date. The Total Recordable Case Frequency
Rate (“TRCFR”) per million hours at managed operations for the quarter improved 14% to 2.52 compared to
2.93 in the prior period.
PGM PRODUCTION
Production has been adjusted in the comparative periods to enable fair comparison between each period as
follows:
- exclude Sibanye-Stillwater 4E ounces from purchase of concentrate (POC) from third parties
- include Mototolo production as own mined production on a 100% basis
- include Union production as purchase of concentrate from third parties
- include Bafokeng Rasimone Platinum Mine (BRPM) production as purchase of concentrate from third
parties
Total PGM production of 1,141,200 ounces was in line with prior year, with platinum production down 1% to
526,800 ounces and palladium production flat at 351,800 ounces.
PGM production from own managed mines
Total PGM production from own managed mines increased 1% to 642,500 ounces (platinum production
increased by 1% to 296,800 ounces and palladium production increased 1% to 225,900 ounces), due to higher
production from Mogalakwena and Unki, partly offset by decreased production from Amandelbult and Mototolo.
Mogalakwena PGM production increased 6% to 287,700 ounces (platinum increased by 8% to 123,400 ounces
and palladium production increased by 3% to 130,800 ounces), due to an increase in throughput and a 14%
increase in built-up head grade.
Amandelbult PGM production decreased 5% to 232,900 ounces (platinum production decreased by 6% to
118,400 ounces and palladium decreased by 5% to 54,300 ounces), mainly due to maintenance at the
concentrator.
Unki PGM production increased 7% to 53,800 ounces (platinum production increased by 5% to 23,600 ounces
and palladium production increased by 9% to 21,400 ounces), due to improved underground mining efficiencies
as well as improved concentrator throughput and mill run-time.
On a 100% basis, Mototolo PGM production decreased by 2% to 68,100 ounces (platinum production decreased
by 2% to 31,400 ounces and palladium by 3% to 19,400 ounces), due to a 6% decline in head-grade due to the
mine transitioning through a difficult ground area containing geological features.
PGM production from joint ventures (50% own mined production and 50% purchase of concentrate)
Joint venture PGM production, excluding Mototolo, increased by 1% to 248,200 ounces (platinum production
was in line with prior year at 109,800 ounces and palladium production increased by 2% to 73,800 ounces).
PGM production at Kroondal increased by 3% due to increased concentrator throughput, higher mill run-time
and improved recoveries. PGM production at Modikwa decreased by 3% due to low equipment availability.
Purchases of PGM concentrate from third parties
Purchase of PGM concentrate from third parties decreased by 5% to 250,500 ounces due lower volume from
Bafokeng Rasimone Platinum Mine (BRPM) and Siyanda Resources.
Refined production and sales volumes
Total refined PGM production, including 168,700 4E ounces of toll treated material, increased by 26% to
1,360,700 PGM ounces due to improved processing operational performance.
Refined PGM production, excluding 4E production now tolled, increased by 10% to 1,192,000 ounces (refined
platinum production increased by 4% to 578,500 ounces and refined palladium production increased by 13% to
362,000 ounces). Prior period refined production was impacted by Mortimer smelter ramping up from its full
rebuild and Polokwane smelter undertaking maintenance which required a full shutdown for 35 days.
PGM sales volumes, excluding the impact of 4E toll treated material, were marginally down 2%, with platinum
sales volumes up 21% to 522,200 ounces and palladium sales volumes up 12% to 309,700 ounces. Minor metal
sales were lower in Q3 and year-to-date, as demand normalised from particularly strong sales in 2018, with
demand also impacted by ongoing macroeconomic uncertainty due to trade tariff disputes. Total PGM sales
volumes were down by 13% to 1,048,400 ounces due to 168,700 4E ounces returned through toll arrangements
and not sold by Anglo American Platinum.
Sales volumes are lower than refined production in the period, due to maintenance at Waterval smelter (Furnace
2 end wall repair), which delayed the availability of refined production for sale during the quarter.
2019 production guidance maintained
PGM production outlook for 2019 is maintained at between 4.2 - 4.5 million ounces, including platinum production of
between 2.0 - 2.1 million ounces and palladium production guidance of between 1.3 – 1.4 million ounces. As previously
communicated, production guidance is down compared to 2018 due to the transition of material from purchase of
concentrate to a 4E tolling arrangement. The Company is not expecting any significant headwinds in the final quarter,
however if there are any prolonged periods of Eskom load-shedding, full year production guidance could be impacted.
Anglo American Platinum Q3 2019 Q3 2019 YTD YTD YTD 2019
PGM Production Report - Q3 2019 Q3 Q2 Q1 Q4 Q3 vs vs September September vs
1 July 2019 - 30 September 2019 2019 2019 2019 2018 2018 Q3 2018 Q2 2019 2019 2018 YTD 2018
Total M&C production (mined and purchase of concentrate)
PGM production (5E+Au) 000 oz 1,141.2 1,118.7 1,028.2 1,257.1 1,345.7 (15)% 2% 3,288.2 3,929.6 (16)%
Platinum 000 oz 526.8 520.3 471.9 602.1 649.1 (19)% 1% 1,519.0 1,882.5 (19)%
Palladium 000 oz 351.8 347.1 326.6 386.9 410.9 (14)% 1% 1,025.5 1,224.1 (16)%
Tonnes milled 000 7,328 7,271 6,879 6,849 7,028 4% 1% 21,479 21,411 0%
Built-up head grade (4E) g/t 3.65 3.55 3.59 3.38 3.58 2% 3% 3.60 3.51 2%
M&C production (mined and purchase of concentrate) excluding 4E production now tolled
PGM production (5E+Au) 000 oz 1,141.2 1,118.7 1,028.2 1,061.9 1,146.0 (0)% 2% 3,288.2 3,347.6 (2)%
Platinum 000 oz 526.8 520.3 471.9 485.2 529.6 (1)% 1% 1,519.0 1,535.3 (1)%
Palladium 000 oz 351.8 347.1 326.6 328.8 351.5 0% 1% 1,025.5 1,050.4 (2)%
Mined operations
Total mined production
PGM production (5E+Au) 000 oz 766.6 747.7 706.1 688.1 759.4 1% 3% 2,220.4 2,308.3 (4)%
Platinum 000 oz 351.7 342.6 322.0 312.6 348.9 1% 3% 1,016.3 1,056.8 (4)%
Palladium 000 oz 262.8 260.5 250.8 238.3 260.3 1% 1% 774.1 806.1 (4)%
Tonnes milled 000 7,327 7,270 6,878 6,957 7,347 (0)% 1% 21,478 22,279 (4)%
Built-up head grade (4E) g/t 3.65 3.55 3.59 3.38 3.58 2% 3% 3.60 3.54 2%
Own managed mines
PGM production (5E+Au) 000 oz 642.5 633.6 600.9 558.6 636.9 1% 1% 1,877.0 1,960.7 (4)%
Platinum 000 oz 296.8 290.5 275.1 254.9 294.3 1% 2% 862.4 901.3 (4)%
Palladium 000 oz 225.9 228.1 219.7 200.3 224.1 1% (1)% 673.6 704.1 (4)%
Tonnes milled 000 6,340 6,372 5,984 5,958 6,372 (1)% (1)% 18,698 19,439 (4)%
Built-up head grade (4E) g/t 3.64 3.53 3.57 3.30 3.53 3% 3% 3.58 3.50 2%
Mogalakwena mine
PGM production (5E+Au) 000 oz 287.7 302.5 307.2 256.8 271.8 6% (5)% 897.4 913.2 (2)%
Platinum 000 oz 123.4 127.9 130.4 108.4 113.9 8% (4)% 381.7 386.8 (1)%
Palladium 000 oz 130.8 139.5 141.5 118.3 127.1 3% (6)% 411.8 422.6 (3)%
Tonnes milled 000 3,331 3,506 3,385 3,371 3,295 1% (5)% 10,222 10,404 (2)%
Built-up head grade (4E) g/t 3.46 3.34 3.49 2.93 3.23 7% 4% 3.43 3.28 5%
Amandelbult mine
PGM production (5E+Au) 000 oz 232.9 229.0 192.8 190.8 245.4 (5)% 2% 654.6 678.1 (3)%
Platinum 000 oz 118.4 116.5 98.5 96.5 126.0 (6)% 2% 333.5 346.2 (4)%
Palladium 000 oz 54.3 53.7 44.9 44.9 57.3 (5)% 1% 152.9 160.2 (5)%
Tonnes milled 000 1,803 1,840 1,590 1,503 1,946 (7)% (2)% 5,233 5,459 (4)%
Built-up head grade (4E) g/t 4.15 3.98 3.88 4.07 4.05 3% 4% 4.01 3.96 1%
Unki mine
PGM production (5E+Au) 000 oz 53.8 52.5 43.3 49.7 50.4 7% 2% 149.6 143.0 5%
Platinum 000 oz 23.6 23.1 19.3 22.1 22.4 5% 2% 66.1 63.9 3%
Palladium 000 oz 21.4 20.9 17.0 19.6 19.7 9% 2% 59.2 55.9 6%
Tonnes milled 000 556 538 454 496 491 13% 3% 1,548 1,429 8%
Built-up head grade (4E) g/t 3.45 3.47 3.47 3.53 3.54 (3)% (0)% 3.46 3.50 (1)%
Mototolo mine
PGM production (5E+Au) 000 oz 68.1 49.6 57.7 61.2 69.2 (2)% 37% 175.4 226.4 (23)%
Platinum 000 oz 31.4 23.0 26.8 28.0 31.9 (2)% 37% 81.2 104.5 (22)%
Palladium 000 oz 19.4 14.0 16.3 17.5 19.9 (3)% 39% 49.7 65.4 (24)%
Tonnes milled 000 651 488 556 590 640 2% 33% 1,696 2,148 (21)%
Built-up head grade (4E) g/t 3.24 3.16 3.23 3.24 3.44 (6)% 3% 3.21 3.36 (4)%
Joint venture mined production
PGM production (5E+Au) 000 oz 124.1 114.1 105.2 129.5 122.5 1% 9% 343.4 347.6 (1)%
Platinum 000 oz 54.9 52.1 46.9 57.7 54.7 0% 5% 153.9 155.5 (1)%
Palladium 000 oz 36.9 32.4 31.2 38.0 36.2 2% 14% 100.5 102.0 (1)%
Tonnes milled 000 987 898 894 1,000 976 1% 10% 2,780 2,840 (2)%
Built-up head grade (4E) g/t 3.75 3.72 3.71 3.83 3.89 (4)% 1% 3.73 3.83 (3)%
Purchase of concentrate
Total purchase of concentrate including 4E production now tolled
PGM production (5E+Au) 000 oz 374.6 371.0 322.1 569.0 586.3 (36)% 1% 1,067.7 1,621.3 (34)%
Platinum 000 oz 175.1 177.6 149.9 289.4 300.2 (42)% (1)% 502.6 825.7 (39)%
Palladium 000 oz 89.0 86.6 75.7 148.6 150.6 (41)% 3% 251.4 418.0 (40)%
Total purchase of concentrate excluding 4E production now tolled
PGM production (5E+Au) 000 oz 374.6 371.0 322.1 373.8 386.6 (3)% 1% 1,067.7 1,039.3 3%
Platinum 000 oz 175.1 177.6 149.9 172.6 180.7 (3)% (1)% 502.6 478.4 5%
Palladium 000 oz 89.0 86.6 75.7 90.5 91.2 (2)% 3% 251.4 244.3 3%
Joint ventures purchase of concentrate
PGM production (5E+Au) 000 oz 124.1 114.1 105.2 129.5 122.5 1% 9% 343.4 347.6 (1)%
Platinum 000 oz 54.9 52.1 46.9 57.7 54.7 0% 5% 153.9 155.5 (1)%
Palladium 000 oz 36.9 32.4 31.2 38.0 36.2 2% 14% 100.5 102.0 (1)%
Third party purchase of concentrate excluding 4E production now tolled
PGM production (5E+Au) 000 oz 250.5 256.9 216.9 244.3 264.1 (5)% (2)% 724.3 691.8 5%
Platinum 000 oz 120.3 125.5 102.9 114.8 126.0 (5)% (4)% 348.7 322.9 8%
Palladium 000 oz 52.1 54.2 44.6 52.5 55.1 (5)% (4)% 150.9 142.3 6%
4E tolled production
4E production (Pt, Pd, Rh, Au) 000 oz - - - 195.2 199.7 (100)% - - 582.0 (100)%
Platinum 000 oz - - - 116.9 119.5 (100)% - - 347.2 (100)%
Palladium 000 oz - - - 58.1 59.4 (100)% - - 173.7 (100)%
Anglo American Platinum Q3 2019 Q3 2019 YTD YTD YTD 2019
PGM Production Report - Q3 2019 Q3 Q2 Q1 Q4 Q3 vs vs September September vs
1 July 2019 - 30 September 2019 2019 2019 2019 2018 2018 Q3 2018 Q2 2019 2019 2018 YTD 2018
Refined production excluding tolling
PGM Production (5E+Au) 000 oz 1,192.0 1,273.5 871.2 1,528.2 1,079.6 10% (6)% 3,336.8 3,256.7 2%
Platinum 000 oz 578.5 591.0 411.7 770.9 556.2 4% (2)% 1,581.2 1,631.5 (3)%
Palladium 000 oz 362.0 428.4 293.6 493.8 321.5 13% (15)% 1,083.9 1,008.0 8%
Minor PGMs and gold 000 oz 251.5 254.2 165.9 263.5 201.9 25% (1)% 671.7 617.2 9%
Base metal production
Nickel tonnes 6,827 5,591 4,231 6,723 5,553 23% 22% 16,649 16,349 2%
Copper tonnes 3,343 3,554 3,157 4,242 2,855 17% (6)% 10,054 10,057 (0)%
Chrome 000 t 236.9 240.9 183.3 179.5 249.5 (5)% (2)% 661.1 679.5 (3)%
Toll refined production
4E production (Pt, Pd, Rh, Au) 000 oz 168.7 153.4 - - - - - 322.1 - -
Platinum 000 oz 100.9 97.9 - - - - - 198.8 - -
Palladium 000 oz 51.4 49.1 - - - - - 100.4 - -
Refined production excluding tolling and 4E purchase of concentrate now tolled in all periods
PGM (5E+Au) 000 oz 1,168.4 1,217.3 790.4 1,288.0 912.7 28% (4)% 3,176.0 2,749.6 16%
Platinum 000 oz 564.4 559.0 364.1 624.7 452.5 25% 1% 1,487.4 1,322.7 12%
Palladium 000 oz 355.4 410.8 267.6 421.0 274.8 29% (13)% 1,033.8 859.7 20%
Sales volume excluding trading
PGM (5E+Au) 000 oz 1,048.4 1,275.1 884.9 1,507.2 1,208.9 (13)% (18)% 3,208.4 3,717.7 (14)%
Platinum 000 oz 537.4 595.2 414.2 776.9 530.1 1% (10)% 1,546.8 1,647.3 (6)%
Palladium 000 oz 316.9 475.9 292.1 455.3 324.3 (2)% (33)% 1,084.9 1,057.8 3%
Sales volume excluding trading and 4E purchase of concentrate now tolled in all periods
PGM (5E+Au) 000 oz 1,022.9 1,205.6 786.6 1,274.0 1,041.0 (2)% (15)% 3,015.0 3,188.6 (5)%
Platinum 000 oz 522.2 557.8 358.2 629.8 431.1 21% (6)% 1,438.2 1,333.6 8%
Palladium 000 oz 309.7 451.3 259.9 388.3 277.1 12% (31)% 1,020.9 900.1 13%
Trading sales volume (7)
PGM (5E+Au) 000 oz 110.1 117.0 67.7 18.0 85.0 29% (6)% 294.8 205.0 44%
Platinum 000 oz 17.5 13.0 5.0 1.5 26.9 (35)% 35% 35.5 92.5 (62)%
Palladium 000 oz 79.6 81.0 58.7 16.5 55.0 45% (2)% 219.4 108.0 103%
(7) Trading sales volume – not produced by Anglo American Platinum operations
Note: (5E+Au) refers to Platinum, Palladium, Rhodium, Iridium, Ruthenium + Gold
(4E) refers to Platinum, Palladium, Rhodium, Gold
Johannesburg
For further information, please contact:
Investors: Media:
Emma Chapman Jana Marais
(SA) +27 (0) 11 373 6239 (SA) +27 (0) 11 638 2607
emma.chapman@angloamerican.com jana.marais@angloamerican.com
Sponsor:
Merrill Lynch South Africa Proprietary Limited
Notes to editors:
Anglo American Platinum Limited is a member of the Anglo American plc Group and is a 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 leading global mining company and our products are the essential ingredients in almost
every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped
resources provides the metals and minerals that enable a cleaner, more electrified world and that meet the fast
growing consumer-driven demands of the world’s developed and maturing economies. With our people at the
heart of our business, we use innovative practices and the latest technologies to discover new resources and
mine, process, move and market our products to our customers around the world – safely, responsibly and
sustainably.
As a responsible miner – of diamonds (through De Beers), copper, platinum group metals, iron ore, coal, nickel
and manganese – we are the custodians of what are precious natural resources. We work together with our
business partners and diverse stakeholders to unlock the sustainable value that those resources represent for
our shareholders, the communities and countries in which we operate, and for society as a whole. Anglo
American is re-imagining mining to improve people’s lives.
www.angloamerican.com
Date: 22/10/2019 08:00:00
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