| Fri 16 Nov 2007, 16:06 | | AMS/AMSP - Anglo Platinum - Anglo Platinum reduces |
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AMS AMSP
ANANP
AMS/AMSP - Anglo Platinum - Anglo Platinum reduces 2007 production target
Anglo Platinum Limited
Incorporated in the Republic of South Africa
Registration No.: 1946/022452/06
JSE Ordinary Share Code: AMS
ISIN: ZAE000013181
JSE Preference Share Code: AMSP
ISIN: ZAE000054474
("Anglo Platinum")
Anglo Platinum reduces 2007 production target
Anglo Platinum announces that, as a result of the reduction in output
associated with achieving a significant improvement in employee safety, the
ongoing shortage of skilled and semi-skilled labour and strike activity,
Anglo Platinum will produce between 2,45 and 2,5 million ounces of refined
platinum in 2007 reduced from the 2,6 to 2,65 million ounce forecast
provided in July 2007.
The revised 2007 production target follows analysis of actual refined
production to the end of October and takes into account:
- The completion of the ramp-up of production following Anglo Platinum`s
decision to shut down Rustenburg Platinum Mines for 7 days in June
2007.
- Anglo Platinum`s decision to suspend production at its Turffontein
shaft in Rustenburg to address safety issues by replacing service
columns and steelwork, expected to last 134 days from 16 November 2007
which will reduce platinum output by 9,000 oz in 2007.
- Implementation of safety interventions at all remaining Anglo Platinum
mines, including 1 day shut-downs
- The impact of the continued shortage and turnover of staff
- The increased frequency and duration of suspension of production by the
regulatory authorities including the Kroondal Joint Venture where
production was suspended today.
- The potential impact of the planned NUM one day industry-wide strike to
improve worker safety awareness
- Wage related industry-wide strikes by mining contract employees
The impact on Anglo Platinum`s production levels in 2008 is currently being
evaluated and an estimate will be provided when results for the financial
year to 31 December 2007 are released.
Anglo Platinum continues to take pre-emptive action to address safety issues
and is wholly committed to working with the Department of Minerals and
Energy and all industry participants to achieve a safe working environment
for all its employees.
Johannesburg, 16 November 2007
For further information contact:
Trevor Raymond +27 11 373 6462
+27 82 654 8467
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 16/11/2007 16:06:01 Produced by the JSE SENS Department.
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