Anglo American Platinum 3Q Production Fell Amid Power Outages, Closures

By Anthony O. Goriainoff

Anglo American Platinum Ltd. on Thursday reported a 6% fall in third-quarter production of platinum group metals, citing power outages and closures, and backed its guidance for the year.

The South African miner, a subsidiary of Anglo American PLC, said that in the three months ended Sept. 30 total PGM production was 1 million ounces, with platinum production falling 8% to 478,900 ounces and palladium production down 5% to 323,800 ounces.

Year-to-date PGM production was 5% down to 3.2 million ounces, the company said.

Sales volumes excluding trading fell to 933,500 ounces from 1.36 million ounces the year before, the miner said.

Anglo American Platinum reiterated full-year metal-in-concentrate production guidance of 3.9 million ounces to 4.3 million ounces and refined production guidance of 3.7 million to 3.9 million ounces.

The company said it is monitoring the continued effect of power outages on its operations during the fourth quarter.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

October 27, 2022 03:44 ET (07:44 GMT)

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