Anglo American Platinum 2Q Production Plunged During Lockdown
July 16 2020 - 3:24AM
Dow Jones News
By Jaime Llinares Taboada
Anglo American Platinum Ltd. said Thursday that its production
declined 41% in the second quarter as lockdowns in response to the
coronavirus hurt its operations in South Africa and Zimbabwe.
The South African mining company said its combined production of
platinum, palladium, rhodium, iridium, ruthenium and gold fell to
665,100 ounces in April-June from 1.11 million ounces a year
earlier. The group said that coronavirus-related stoppages led to a
loss of around 521,600 ounces in the period.
Sales declined 55% reflecting output drops. However, the group
reported that its realized basket price for the platinum metals
group increased to $1,757 per ounce in the quarter, up from $1,275
a year earlier.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
July 16, 2020 03:09 ET (07:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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