Load-shedding results in Amplats losing 92,000oz of PGM output in first quarter
Based on the average price for PGMs in the three months, the unprocessed metal had a value of R1.59bn, most of which will be recouped in time
Eskom's blackouts meant Anglo American Platinum (Amplats) was unable to process 92,000oz of metal, representing about 12% of its refined production for the first quarter of 2019. Based on the average price for platinum group metals (PGMs) in the three months, the unprocessed metal had a value of R1.59bn, most of which will be recouped in time. The world's largest platinum miner, which is 80% owned by Anglo American, divided the 92,000oz between its concentrators, which it was unlikely to recover, and its smelters, which it could recover over time if it had uninterrupted power supply from state power utility Eskom.
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