| Thu 26 Jan 2012, 9:00 | | AMS - Anglo American Platinum Limited - Anglo American Platinum Limited |
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AMS
ANANP
AMS - Anglo American Platinum Limited - Anglo American Platinum Limited
quarterly review and production report for the period 01 October 2011 to 31
December 2011
ANGLO AMERICAN PLATINUM LIMITED
(formerly Anglo Platinum Limited)
Incorporated in the Republic of South Africa
Registration number 1946/022452/06
Share code: AMS
ISIN: ZAE000013181
("Anglo American Platinum" or "the company")
ANGLO AMERICAN PLATINUM LIMITED QUARTERLY REVIEW AND PRODUCTION REPORT FOR
THE PERIOD 01 OCTOBER 2011 TO 31 DECEMBER 2011
KEY FEATURES
- Refined platinum production up 10% quarter on quarter to 710 koz
due to continued reliability of smelters, as depicted by the
absence of any major incident for the past three years
- Equivalent refined platinum production down 9% year on year and 13%
quarter on quarter to 583 koz due to higher number of safety
stoppages, offset by strong performance at Mogalakwena`s North pit
and continuing ramp up at Unki mine
- Unki mine reached steady state during the fourth quarter of 2011,
which is a year ahead of schedule
- Mogalakwena`s head grade and recoveries continue to improve
- Platinum sales target of 2.6 moz achieved
REVIEW OF THE QUARTER
There were 32 safety stoppages (S54s) during the fourth quarter of 2011
compared with 14 during the fourth quarter of 2010 and 16 during the third
quarter of 2011. This brings the total number of safety stoppages for 2011 to
81 compared with 36 during 2010. The company is continuing to engage
proactively with the workforce and the Department of Minerals Resources to
implement more effective means of addressing major risks. The higher number
of safety stoppages resulted in lower production at Tumela, Dishaba, Union
and Rustenburg mines and increased processing of lower grade surface
stockpiles. This resulted in a 9% year on year decrease in equivalent refined
platinum production (equivalent ounces are mined ounces expressed as refined
ounces) for the fourth quarter of 2011.
Mined production at 453 koz was down 8% in the fourth quarter of 2011
compared to the same period in 2010. Production at most underground
operations was impacted by an increased number of safety related stoppages
compared to the same period in 2010. This was partly offset by strong
performance at Mogalakwena`s North pit and ramp up at Unki mine.
Mogalakwena`s head grade and recoveries improved by 7% and 4% year on year
respectively during the fourth quarter of 2011. Unki mine reached steady
state during the fourth quarter of 2011, which is a year ahead of schedule.
Purchased platinum ounces were 12% lower when compared to the fourth quarter
of 2010 due primarily to safety stoppages, limited equipment availability and
the implementation of more stringent support systems at Kroondal.
Refined platinum production increased by 10% quarter on quarter despite a
higher number of safety stoppages. This is due to increased reliability and
efficiency of our smelters, as depicted by the absence of any major incident
for the past three years. The strong performance from our smelters played a
key role in the achievement of our 2010 annual sales volume target of 2.6
million ounces.
QUARTERLY PRODUCTION STATISTICS
Quarter ended
December December September
2011 2010 2011
Production statistics
Tonnes mined - opencast 000
(1) 16,812 16,739 20,149
Tonnes broken - 000
underground mines 6,513 6,874 7,161
Tonnes milled 000
10,023 10,416 10,920
Merensky / UG2 / Other per 1 1: 4.2: 1: 3.7 1: 3.9:
tonnes (2) Merensky 4.1 :3.5 3.6
tonne
Equivalent refined 000 oz
platinum production (3)
Mined
453.3 494.1 513.7
Purchased
130.5 148.0 154.3
Sold
-0.6 -2.0 -1.2
Attributable to Anglo
American Platinum 583.2 640.1 666.8
Total refined
production
Platinum 000 oz
710.0 872.4 646.5
Palladium 000 oz
392.7 502.6 376.0
Rhodium 000 oz
96.8 111.4 75.2
Gold 000 oz
28.0 20.7 17.1
PGMs 000 oz
1,353.0 1,682.8 1,234.8
Nickel 000 tonnes
5.1 5.0 4.9
Copper 000 tonnes
2.9 2.9 3.0
Refined platinum 000 oz
production 710.0 872.4 646.5
Mining 000 oz
560.6 679.9 490.4
Purchase of concentrate 000 oz
149.4 192.5 156.1
QUARTERLY PRODUCTION STATISTICS CONTINUED
% Change
Dec `11 Dec `11
vs vs
Dec`10 Dec`10
Production statistics
Tonnes mined - opencast (1) 0% -17%
Tonnes broken - underground mines -5% -9%
Tonnes milled -4% -8%
Merensky / UG2 / Other tonnes (2)
Equivalent refined platinum
production (3)
Mined -8% -12%
Purchased -12% -15%
Sold -70% -50%
Attributable to Anglo American -9% -13%
Platinum
Total refined production
Platinum -19% 10%
Palladium -22% 4%
Rhodium -13% 29%
Gold 35% 64%
PGMs -20% 10%
Nickel 2% 4%
Copper 0% -3%
Refined platinum production -19% 10%
Mining -18% 14%
Purchase of concentrate -22% -4%
Notes:
(1) Includes Mogalakwena, Modikwa, and Marikana opencast
operations
(2) Other tonnes includes both Platreef and other surface sources
(3) Mine`s production converted to equivalent refined production
using Anglo American Platinum`s standard smelting and refining
recoveries
Johannesburg, South Africa
26 January 2012
For further information, please contact:
Investors:
Kgapu Mphahlele
+27 (0) 11 373 6239
kgapu.mphahlele@angloamerican.com
Media:
Mary Jane Morifi
+27 (0) 11 373 6638
mary-jane.morifi@angloamerican.com
Mpumi Sithole
+27 (0) 11 373 6246
mpumi.sithole@angloamerican.com
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Notes to editors:
Anglo American Platinum Limited is a member of the Anglo American plc Group
and is the world`s 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 and is actively
exploring in Brazil. Amplats 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. Amplats is committed to the
highest standards of safety and continues to make meaningful and sustainable
difference in the development of the communities around its operations.
www.angloamericanplatinum.com
Anglo American is one of the world`s largest mining companies, is
headquartered in the UK and listed on the London and Johannesburg stock
exchanges. Anglo American`s portfolio of mining businesses spans bulk
commodities - iron ore and manganese, metallurgical coal and thermal coal;
base metals - copper and nickel; and precious metals and minerals - in which
it is a global leader in both platinum and diamonds. Anglo American is
committed to the highest standards of safety and responsibility across all
its businesses and geographies and to making a sustainable difference in the
development of the communities around its operations. The company`s mining
operations, extensive pipeline of growth projects and exploration activities
span southern Africa, South America, Australia, North America, Asia and
Europe. www.angloamerican.com
Date: 26/01/2012 09:00:54 Produced by the JSE SENS Department.
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