Anglo American Platinum Sees Return to Normal Production in 2021

By Matteo Castia

Anglo American Platinum Ltd. said Friday that it expects to return to normal production levels in 2021.

The South African miner, which is majority-owned by Anglo American PLC, said it expects production of platinum group metals to be between 4.6 million and 5.0 million ounces in 2021.

"We have been able to bring production back to almost normal capacity levels despite the impact of Covid-19...we expect to return to normal production levels from 2021 onwards, barring any new restrictions in the event of further Covid-19 waves," the company said.

Anglo American Platinum said it expects unit cost in 2021 to be 11,000 to 11,500 South African rand ($732.11-$765.38) per ounce of platinum-group metals, reflecting the recovery in production.

Production of platinum group metals in 2022 is expected to rise to between 4.7 million and 5.1 million ounces, and to fall back to between 4.2 million and 4.6 million ounces in 2023.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

December 11, 2020 07:20 ET (12:20 GMT)

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