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ANGLO AMERICAN PLATINUM LIMITED - Anglo American Platinum safely completes the ACP Phase A rebuild

Release Date: 07/12/2020 11:03
Code(s): AMS     PDF:  
Wrap Text
Anglo American Platinum safely completes the ACP Phase A rebuild

(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 safely completes the ACP Phase A rebuild

Anglo American Platinum has safely and successfully completed the rebuild of the Anglo Converter Plant
(ACP) Phase A unit, with first converter matte ready to dispatch to our Base Metals Refinery for the next
stage of processing. The ACP Phase A is now in ramp-up and on track to be operating at full capacity by
the end of the year.

Natascha Viljoen, CEO of Anglo American Platinum, commented:

“The ACP operations and projects teams have done an extraordinary job in safely completing the rebuild
and recommissioning of the ACP Phase A unit. We were able to procure and deliver long lead-time items
to site six months ahead of schedule, despite the impact of Covid-19 on supply chains, enabling us to
bring forward the rebuild to the end of 2020, ahead of our initial expectations of Q2 2021. First converter
matte is now ready to be dispatched, allowing us to re-establish the processing pipeline to finished metals.
I am also pleased that our marketing team has worked tirelessly with our customers to mitigate the impact
of the interruption and manage our contractual obligations during this period.”

As a result of the early completion and a safe and stable restart, the Company has upgraded refined
production guidance for 2020 to between 2.6 – 2.7 million PGM ounces (previously c.2.5 million PGM
ounces)1. Sales volumes have also been upgraded to c.2.8 million PGM ounces, as minor metal refined
inventories have been drawn down. The release of the work-in-progress inventory built up in 2020 is
expected to take up to 24 months.

7 December 2020

Merrill Lynch South Africa Proprietary Limited

For further information, please contact:

Investors:                                        Media:
Emma Chapman                                      Jana Marais
(SA) +27 (0) 11 373 6239                          (SA) +27 (0)79 932 1586          

Notes to editors:

1 Unaudited
          EBITDA impact of the ACP Phase B shut-down in November 2020 to first matte dispatched
at ACP Phase A is approximately R5-6 billion, assuming spot prices at the end of October 2020.
The ACP plant is a key part of Anglo American Platinum’s PGM production process, treating furnace
matte from the company’s smelters. At the ACP plant, sulphur and iron contained in the furnace matte
from the smelters are converted to sulphur dioxide and slag. The resulting converter matte is then slow-
cooled to concentrate PGMs into a metallic fraction. From the ACP, material moves to the Magnetic
Concentration Plant (MCP), where the converter matte is milled and the PGM fraction is separated
magnetically. The PGM-bearing material then moves from the MCP to the Precious Metals Refinery
(PMR), where the PGMs are separated and purified to yield platinum, palladium, iridium, rhodium,
ruthenium and gold.

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, as well as its two joint
venture operations. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. 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.

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 operations, development
projects and undeveloped resources, provides many of the metals and minerals that enable a cleaner,
greener, more sustainable world and that meet the fast growing consumer-driven demands of developed
and maturing economies. With our people at the heart of our business, we use innovative practices and
the latest technologies to mine, process, move and market our products to our customers – and to
discover new resources – safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, the
steelmaking ingredients of iron ore and metallurgical coal, and nickel – with crop nutrients in development
and thermal coal operations planned for divestment – we are committed to being carbon neutral across
our operations by 2040. We work together with our business partners and diverse stakeholders to unlock
sustainable value from precious natural resources for the benefit of the communities and countries in
which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining
to improve people’s lives.

Date: 07-12-2020 11:03:00
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