Anglo American Platinum reported a decrease in platinum production and sales volumes in the second quarter. However, the company remains confident in achieving its full-year targets for both production and unit costs.
Production Figures
During the quarter, platinum group metals production at the South African company dropped by 10% to 526,700 ounces. The decline can be attributed to short-term operational challenges and infrastructure closures at the Amandelbult mine, as well as lower grades at Mogalakwena.
Sales Decline
Sales volumes for platinum metals group experienced an 8% decrease, amounting to 1.11 million ounces. This drop was mainly due to a 13% decline in refined production, which stood at 1.07 million ounces.
Outlook
Despite the challenges faced during the second quarter, Anglo American Platinum has reiterated its full-year guidance for both production and unit costs. The company remains focused on demonstrating resilience through safe, stable, and capable operations for the rest of the year.
“We remain on track to achieve our 2023 guidance, with a strong focus on demonstrating our resilience through safe, stable, and capable operations for the remainder of the year,” said Chief Executive Natascha Viljoen.