Amplats Says Another Anglo Converter Unit To Close Temporarily

(Alliance News) - Another unit at Anglo American Platinum Ltd's Anglo Converter Plant will go ...

Alliance News 3 June, 2020 | 2:58PM
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(Alliance News) - Another unit at Anglo American Platinum Ltd's Anglo Converter Plant will go offline after a water leak was detected, the company, as well as parent Anglo American PLC, noted on Wednesday,

Amplats explained it detected a water leak on Sunday in the high-pressure cooling section the plant's Phase B unit.

The Phase A unit at the Rustenburg, South Africa, plant is also offline, after it was damaged during an explosion back in February.

On Phase B, Amplats said: "Whilst a detailed technical investigation into the cause of this leak and potential repairs is under way, the company has taken the decision to temporarily close the ACP Phase B unit to ensure an ongoing safe operating environment, protect employees and protect the integrity of the plant. This latest action is separate from the repair work that was recently completed at the ACP Phase B unit and there is no damage to the prior repairs or to the furnace."

The company said it expects to issue another update on the matter "early next week".

Amplats shares were 5.4% lower at ZAR1,108.99 each in Johannesburg on Wednesday afternoon. Anglo American shares were 2.1% higher at ZAR384.80 each. In London, Anglo American was 2.1% higher at 1,796.00 pence per share.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Anglo American PLC 2,696.50 GBX 0.80
Anglo American Platinum Ltd 154,436.00 ZAC 1.28 -

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