| Fri 16 Nov 2007, 16:39 | | AGL - Anglo American Plc - Anglo Platinum reduces |
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AGL
ANAAL
AGL - Anglo American Plc - Anglo Platinum reduces 2007 production target
Anglo American Plc (the "Company")
Registered office: 20 Carlton House Terrace, London, SW1Y 5AN
Registered number: 3564138
JSE share code: AGL
ISIN: GB00B1XZS820
Anglo American notification: Anglo Platinum reduces 2007
production target
Anglo American draws your attention to the following announcement made by Anglo
Platinum today:
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
JSE Sponsor: UBS
For further information:
Investor Inquiries
Nick von Schirnding
Tel: +44 207 968 8540
Charles Gordon
Tel: +44 207 968 8933
Anna Poulter
Tel: +44 207 968 2155
Media Inquiries
James Wyatt-Tilby
Tel : +44 207 968 8759
Notes to Editors:
Anglo American plc is one of the world`s largest mining and natural resource
groups. With its subsidiaries, joint ventures and associates, it is a global
leader in platinum group metals and diamonds, with significant interests in
coal, base and ferrous metals, as well as an industrial minerals business and a
stake in AngloGold Ashanti. The Group is geographically diverse, with operations
in Africa, Europe, South and North America, Australia and Asia.
(www.angloamerican.co.uk)
Date: 16/11/2007 16:39:50 Produced by the JSE SENS Department.
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