Amplats manages to keep full-year output intact despite weak fourth quarter
Sales of platinum group metals increased 19% in the fourth quarter and refined platinum production rose 14%
Anglo American Platinum (Amplats), the world’s largest source of the metal, kept its full-year output intact despite a weaker fourth quarter after the closure of the unprofitable Bokoni mine dragged production down 4% in the last three months of 2018. Amplats, which is 80% owned by Anglo American, reported full-year platinum production of 2.397-million ounces for the 12 months to end-December, a 1% increase compared with the previous year. The fourth quarter showed a 4% drop in group platinum output to 587,000oz because of the decision in the third quarter to close the Bokoni mine in which Amplats has a 49% stake. The Mototolo concentrator was temporarily closed to modify a tailings dam. However, looking at the mines owned by Amplats, output was up 3% to 291,800oz in the quarter, with the opencast Mogalakwena mine, the most profitable operation in the company’s stable, increasing production by 18% to 121,700oz, offsetting lower output from its three other mines. Amplats said its sal...
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