Anglo American Platinum Completes Converter Plant Phase A Rebuild

(Alliance News) - Anglo American Platinum Ltd on Monday said it has safely and successfully ...

Alliance News 7 December, 2020 | 9:26AM
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(Alliance News) - Anglo American Platinum Ltd on Monday said it has safely and successfully completed the rebuild of the Anglo converter plant phase A unit.

The South African producer of platinum said the first converter matte is now ready to dispatch to its base metals refinery for the next stage of processing. The Anglo converter plant phase A is now in ramp-up and on track to be operating at full capacity by the end of the year.

As a result of the early completion and a safe and stable restart, the company said it has upgraded refined production guidance for 2020 to between 2.6 and 2.7 million platinum group metals ounces, previously the company guided for 2.5 million platinum group metal ounces.

Sales volumes, therefore, have also been upgraded to 2.8 million platinum group metals ounces, as minor metal refined inventories have been drawn down.

"The Anglo converter plant operations and projects teams have done an extraordinary job in safely completing the rebuild and recommissioning of the Anglo converter plant phase A unit. We were able to procure and deliver long lead-time items to site six months ahead of schedule, despite the impact of Covid-19 on supply chains, enabling us to bring forward the rebuild to the end of 2020, ahead of our initial expectations of the second quarter of 2021," said Chief Executive Natascha Viljoen.

"First converter matte is now ready to be dispatched, allowing us to re-establish the processing pipeline to finished metals. I am also pleased that our marketing team has worked tirelessly with our customers to mitigate the impact of the interruption and manage our contractual obligations during this period,” added Viljoen.

London Stock Exchange-listed Anglo American also noted the completion.

Anglo American Platinum shares were trading 0.3% higher in Johannesburg on Monday at ZAR1,195.10 each. Anglo American shares up 0.6% at 2,549.50 pence each in London and down 0.6% at ZAR513.15 each in Johannesburg on Monday.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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