Anglo American Platinum has revised its 2022 refined production guidance as its quality assurance processes detected the delivery of sub-standard materials for the Polokwane smelter rebuild in South Africa.
It is now expected to produce between 3.7 million and 3.9 million platinum group metals (PGM) ounces from the previous target of 4 million to 4.4 million PGM ounces.
Anglo American Platinum said delivery of replacement materials will result in a two-month delay in the completion of the project.
As a result, there will be a build-up in work-in-progress inventory this year and a short-term timing impact on refined PGM production.
“As we undergo our first full rebuild of the Polokwane smelter in twelve years, our quality assurance processes identified a defective consignment of materials required to complete the rebuild,” said company chief executive Natascha Viljoen.
“We remain committed to ensuring the structural integrity of our Polokwane smelter, with high standards embedded into the rebuild to ensure asset integrity and the longevity of this operation.”
The miner, however, said PGM ounces and unit cost guidance remained at between R14,000
and R15,000 per PGM ounce.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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