The g spot
Amplats’ record run
Anglo American Platinum (Amplats) has stormed to a record dividend, thanks to a recovery in production but largely due to stratospheric platinum group metals (PGM) prices. Where five years ago the group earned R25,100 per PGM ounce, it now takes in R41,400 at a cost of just over R12,500, compared with more than R19,000 in 2016. That leaves it with cash on hand of R57.6bn. Amplats will pay out R46.4bn to shareholders in the form of an interim and special dividend — essentially 100% of headline earnings. The FM spoke to CEO Natascha Viljoen.
Is this peak PGM for Amplats?..