Rising commodity prices lift Amplats
World’s largest platinum producer expects headline earnings per share to double
Anglo American Platinum (Amplats), the world’s largest platinum producer, expects headline earnings per share for the year to end-December to as much as double from the prior comparative period, thanks to a boost from rising commodity prices. Although platinum prices are hovering near a 10-year low, SA’s major platinum producers are reporting that cost-cutting and rising prices have improved profitability, even as they continue to shed jobs and dispose of noncore assets. A 13% rise in a basket of platinum-group metals over the period has lifted Amplats’s performance over the period with the company citing a positive R500m re-evaluation of an asset. SA platinum producers have been boosted by rising prices for platinum group metals rhodium and palladium. All are used in emissions-reducing technology, with palladium pushing to record highs so far in 2019 and eclipsing the gold price for the first time. Amplats has said previously it is working on boosting palladium production at its Mo...
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