Anglo American Platinum’s refined production last year fell by 5% because of a problem at its Waterval smelter knocking out 65,000oz of platinum. Amplats, the world’s largest miner of platinum, produced 2.335-million ounces of refined platinum last year despite a 2% increase in mined metal to 2.382-million ounces. Refined palladium output was 8% lower at 1.464-million ounces, while rhodium production climbed 4% to 317,000oz. The damaged furnace at Waterval has been repaired and was operating at full capacity, Amplats said on Thursday. Amplats has also held back some refined platinum to rebuild its inventory of metal. During the fourth quarter of last year, mined platinum in concentrate, which is fed into the smelter, increased by 2% to 610,100oz, with the opencast Mogalakwena, the jewel in the Amplats crown, increasing output by 5% to 103,400oz as grades improved. Amplats has sold its deep-level, labour-intensive Rustenburg mine to Sibanye Gold and wants to sell its Union mine too. ...
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