HomeNewsAnglo Platinum earnings plummet

Anglo Platinum earnings plummet

Anglo Platinum’s
Unki mine in
Johannesburg, South Africa — MININGREVIEW.COM — 15 July 2009 – Anglo Platinum Limited “’ the world’s biggest producer of the metal “’ has revealed that its first-half year earnings per share fell by 65% to 75% from a year earlier, after the collapse of international commodity prices.

Revealing this in a statement to the Johannesburg Stock Exchange News Service, the company said that per-share earnings excluding one-time items had fallen by 90% to 99 %.

Platinum traded at an average US$1 102 an ounce during the six-month period “’ 43% less than US$1 949 an ounce a year earlier. The price of the metal denominated in the local currency fell by a third to an average of R10 073 (US$1 229) an ounce.

Earnings per share were R35.47 in the first half of last year, while per-share earnings excluding one-time items were R35.63.

Anglo Platinum closed at R510 in Johannesburg trading yesterday. The stock has declined by 1.5% this year.