Amplats output from own managed mines down 4% in second quarter
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JOHANNESBURG - Anglo American Platinum said on Thursday output from its own managed mines decreased by four percent to 633,600 ounces in the second quarter of 2019, due to lower production from Mogalakwena and Mototolo.
Joint venture platinum group metal (PGM) production, excluding Mototolo, decreased by four percent to 228,200 ounces, Amplats said, citing lower volume from Modikwa despite a strong performance from Kroondal.
Production guidance for 2019 however remained unchanged at 4.2–4.5 million PGM ounces, the company said.
Total PGM production increased by one percent to 1,118,700 ounces, with platinum output up three percent to 520,300 ounces while palladium dipped one percent to 347,100 ounces.
This excluded Sibanye-Stillwater Rustenburg 4E material which transitioned to a tolling arrangement from January 1.
"Despite the increase in production, the quarter was impacted by unprotected industrial action at Mototolo, maintenance at Mogalakwena north concentrator and production challenges at Modikwa and Mototolo," Amplats said.
PGM sales volumes of 1,275,100 ounces were in line with refined production, but were down by eight percent year-on-year due to 154,400 4E ounces returned through toll arrangements and not sold by Amplats.
Platinum sales volumes decreased by six percent to 595,200 ounces while palladium sales volumes were up 17 percent to 475,900 ounces due to the change in the concentrate mix processed in each period.
Amplats reiterated that the PGM production outlook of 4.2-4.5 million ounces for 2019 was down on 2018 due to the transition of Sibanye-Stillwater Rustenburg mine 4E material to a tolling arrangement.