Photo: Reuters

JOHANNESBURG – Anglo American Platinum on Monday reported a 95 percent surge in headline earnings per share to 28.93 cents in the year to December.

Earnings before interest, taxes, depreciation, and amortization grew 21 percent to R14.5 billion and Amplats declared a final dividend of R2 billion or R7.51 per share, resulting in a total dividend for the year of R11.25 per share.

Chief executive Chris Griffith said record production performances from Mogalakwena, Unki and Kroondal saw total platinum group metal (PGM)  production increasing by four percent.

Whilst the platinum price remained subdued, the price of the company's basket of metals increased by 13 percent, with its diversified PGM proposition delivering significant value for shareholders.

Amplats, which had two work-related deaths in 2018, both at the Amandelbult mine, said it would continue to work to improve its safety performance to achieve zero harm.

Griffith said the company would continue to pursue low capital fast-payback and high-margin projects, invest in technology and innovation, as well as progressing the studies for the expansion of Mogalakwena.  

"Facilitating the development of demand for PGMs remains a key priority," he added. "We expect this series of strategic actions to increase cash flows and returns and reinforce the sustainability of the Company for the benefit of all our stakeholders.”

African News Agency (ANA)