Anglo Platinum observed a decline of 9% in refined platinum group metals (PGMs) production, with a total of 909,700 ounces in the third quarter, compared to the 995,000 ounces of the previous year.
The main reason for the decline was an unexpected interruption in the supply of municipal water at the processing complex in Rustenburg, South Africa, as well as a decrease in the production of metal concentrate.
It said Eskom load-curtailment also had a minimal impact on production for the quarter, with less than 5,000 ounces deferred for future processing.
The refined PGMs production guidance for 2023 is expected to range from 3.6 million to 4 million ounces, taking into account the potential effect of Eskom load-curtailment.
Anglo's own mined production declined by 3% to 665,800 ounces, primarily as a result of reduced production at Mogalakwena and Amandelbult.
Mogalakwena's production experienced a 5% decline, amounting to 246,800 ounces, mainly as a result of mining activities in a premeditated area with lower-grade deposits.
Production at Amandelbult eased by 4% to 184,900 ounces due to continued poor ground conditions. These were partly offset by joint operations, which increased production by 2% to 97,500 ounces, mainly due to improved grade at Modikwa.
Meanwhile, Anglo said PGM sales volumes rose by 2% to 951,800 ounces from 933,500 ounces in the third quarter of 2022.
The average realised basket price year to date is $1,766 per PGM ounce, showcasing a decline in market prices compared to the corresponding period last year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
