Amplats loses R742m worth of platinum to Eskom blackouts
The world’s second-largest platinum miner was forced to stop operations during load-shedding
Anglo American Platinum (Amplats) lost 38,000oz of platinum group metals (PGMs) to Eskom-related blackouts during 2019, costing the company more than R742m in lost production that cannot be recovered.
Amplats, the world’s second-largest platinum miner that is 80%-owned by Anglo American, said it had lost production of 18,000oz of PGMs in the first half of the year to blackouts that forced the closure of mines. Amplats lost a further 16,800oz in the second half of the year. Its joint ventures lost 3,200oz...