Amplats expects earnings to rise by up to 151%, joins Bloomberg index
JOHANNESBURG - Mining company Anglo American Platinum said on Tuesday it expected headline earnings and headline earnings per share for the 12 months ended last month to increase by between 131 percent and 151 percent respectively, compared to the previous year.
Amplats, which is due to release its results on February 17, said the expected rise was primarily driven by a 38 percent increase in the rand basket price and a continued steady operational performance.
This, it said, was in spite of a loss in production of 38,000 platinum group metals (PGM) ounces and deferred refined production of 89,000 PGM ounces to be refined in 2020, due to power outages implemented by state power utility Eskom.
In a separate statement, the company said it had been included in the 2020 Bloomberg Gender-Equality Index for the first time, reflecting the significant progress made on creating an inclusive and diverse workplace.
In total, 325 companies headquartered in 42 countries, including only eight South African companies, were included in the index, seen as a valuable tool for investors considering environmental, social and governance matters in deciding where to put their money.
It measures gender equality across five pillars -- female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies and a pro-women brand.
"We have put significant effort into improving our workplace policies and organisational culture to create an inclusive and diverse workplace, which we believe leads to a stronger operational and financial performance, benefitting all our stakeholders," Amplats chief executive officer Chris Griffith said.
"Our inclusion in the 2020 Bloomberg Gender-Equality Index allows us to benchmark against the best companies worldwide, identify areas where we can make further improvements, and celebrate the significant progress we’ve made in creating a culturally inclusive and supportive work environment for all employees, irrespective of race, gender, disability or religion.”
- African News Agency (ANA)