24.04.2014, 22:29
Anglo American Platinum Reports 1Q Production
OREANDA-NEWS. Rustenburg, Amandelbult and Union production severely impacted by industrial action which began on 23 January 2014 and is ongoing.
185 koz of platinum production has been lost as a result of the strike.
The industrial action has not impacted production at Mogalakwena, Unki or the Joint Venture operations.
Record production performance from Mogalakwena and Joint Venture operations.
Equivalent refined platinum production of 167 koz from own mines representing a 57% decrease due to the on-going industrial action.
Joint Venture and associate mined and purchased production of 183 koz, a 5% increase, owing to operational efficiency improvements across the portfolio.
Processing operations were not affected by the industrial action and refined platinum production remained in line with Q1 2013, supplemented by a reduction in the pipeline stock.
Sales to customers continue at normal levels, supplemented by refined platinum stock.
In respect of the outlook for 2014 as a whole and taking into account the production lost to date, full year production is expected to reduce to approximately 2.1Moz, with potential for further downside revisions from the ongoing industrial action.
185 koz of platinum production has been lost as a result of the strike.
The industrial action has not impacted production at Mogalakwena, Unki or the Joint Venture operations.
Record production performance from Mogalakwena and Joint Venture operations.
Equivalent refined platinum production of 167 koz from own mines representing a 57% decrease due to the on-going industrial action.
Joint Venture and associate mined and purchased production of 183 koz, a 5% increase, owing to operational efficiency improvements across the portfolio.
Processing operations were not affected by the industrial action and refined platinum production remained in line with Q1 2013, supplemented by a reduction in the pipeline stock.
Sales to customers continue at normal levels, supplemented by refined platinum stock.
In respect of the outlook for 2014 as a whole and taking into account the production lost to date, full year production is expected to reduce to approximately 2.1Moz, with potential for further downside revisions from the ongoing industrial action.
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