Anglo American Says Amplats Water Leak Unrelated To Recent Repairs

(Alliance News) - Anglo American PLC on Wednesday noted an announcement by Anglo American ...

Alliance News 10 June, 2020 | 10:24AM
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(Alliance News) - Anglo American PLC on Wednesday noted an announcement by Anglo American Platinum Ltd concerning the water leak at the Anglo converter plant phase B unit.

Amplats on Wednesday last week disclosed the water leak. It was found in the high-pressure cooling section of the unit, which was then closed for safety reasons.

After a detailed technical investigation, it was found that the leak had been caused by localised damage to a single cooler tube, which is now being replaced.

Amplats said the leak is not connected to the repair work recently completed at the unit.

While the unit is offline, other maintenance work is taking place so as "to provide greater operational stability".

The repair work is set to complete next week and recommissioning will start following "a detailed risk-based assurance process" to make sure it is safe.

It is likely that there will be intermittent stoppages for plant inspections until all repairs to the phase A unit complete. These repairs are going well and should complete near the end of 2020.

Stoppage of the phase B unit to repair the water leak is not expected to affect annual refined production, which still is guided at between 3.1 million and 3.6 million platinum group metal ounces.

"Anglo American Platinum will continue to receive concentrate from third parties and joint ventures under the purchase of concentrate and toll agreements and will continue to deliver metal to customers," said Amplats.

Shares in Anglo American were up 0.1% at 1,867.40 pence in London on Wednesday but down 0.4% at ZAR393.55 in Johannesburg. Amplats shares were down 2.6% at ZAR1,134.52

By Anna Farley;

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Anglo American PLC 2,663.50 GBX -5.31
Anglo American Platinum Ltd 151,731.00 ZAC 0.04 -

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