Amplats declares force majeure and warns of 900,000oz output drop
World number two PGM producer says it cannot meet contracted supplies after major problems at a critical plant in its processing division
Anglo American Platinum, the world’s second-biggest source of platinum group metals (PGMs), has declared force majeure on supplies of metals to customers and lowered its full-year refined output forecast by 900,000oz.
A company declares force majeure, a clause in all supply contracts with customers, to allow it to interrupt that supply if an extraordinary event happens. It carries with it reputational damage and it is not something companies declare easily...