Amplats output rises even as strike disrupt mines

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AngloPlatWalk REUTERS Royal Bafokeng experiences lower output. Picture: Reuters

Johannesburg - Anglo American Platinum Ltd., the world’s largest producer of the metal, said fourth-quarter production rose 25 percent even as it contended with earlier labour disruptions.

Total equivalent refined platinum output was 520,000 ounces in the three months ended December 31 compared with 416,000 ounces a year earlier, when walkouts closed mines, the Johannesburg-based company said today in a statement.

Total production for the year was 2.3 million ounces, it said.

Amplats closed shafts and cut jobs last year as it sought to return to profit.

The bulk of its operations are in South Africa, which has the world’s largest known reserves of the metal.

“Production at Rustenburg decreased 41 percent quarter-on-quarter as result of Khomanani mine, Khuseleka 2 shaft and Union North Declines having shut since August 2013 in line with the proposed restructuring plans,” it said. - Bloomberg News

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