Amplats posts marginal Q4 production uptick

JOHANNESBURG (miningweekly.com) – JSE-listed Anglo American Platinum (Amplats) on Thursday posted a marginal uptick in production during the fourth quarter of the year ended December 31.

Total platinum metal-in-concentrate production was 2% higher than in the fourth quarter of the prior year, at 610 100 oz, with improved performances seen at the Mogalakwena and Unki operations, where output was up 5% and 7% to 103 400 oz and 19 900 oz respectively.

Production from joint venture operations decreased by 5% to 189 500 oz during the fourth quarter, with lower production from Bokoni offsetting record production at Kroondal and strong production from the Bafokeng Rasimone Platinum Mine.

Amplats pointed out that, though, that on a normalised basis, excluding production resulting from the closure of the two vertical shafts, production at Bokoni increased 4% year-on-year.

Further, the company’s Twickenham mine was idled, resulting in a reduction of 4 200 unprofitable platinum ounces in the fourth quarter of 2016.

“Following the restructuring at Union in 2016, which led to a significant reduction in labour, the mine continued to perform in line with its optimised mine plan, despite the impact of a fatality, maintaining production at 38 100 oz,” Amplats added.

Amplats’ Waterval smelter run-out in September and the subsequent furnace rebuild resulted in a 15% contraction in refined platinum production to 631 600 oz for the three months under review.

Mining and concentrating activities were unaffected; however, sales volumes for the quarter fell 2% to 606 500 oz.

“The Number 1 furnace at Waterval smelter has been successfully rebuilt and is operating at full capacity. The rebuild was completed ahead of schedule and at lower expected capital expenditure of R95-million,” the company pointed out.

Platinum production for the full year reached 2.38-million ounces, compared with the 2.34-million ounces produced in 2015.