HomeNewsAnglo Platinum expects higher production

Anglo Platinum expects higher production

A miner is chair-
lifted at Anglo
Platinum’s Paardekraal
Johannesburg, South Africa — MININGREVIEW.COM – 05 May, 2008 – Anglo American’s Anglo Platinum – top platinum producer in the world – expects its platinum production to increase by at least 5% in the second quarter of 2008 to a total of more than 450 000 oz.

So said joint CEO Duncan Wanblad in an interview here with Bloomberg News. He pointed out that first- quarter output this year had plunged 24 percent below a year earlier, in the wake of flooding at its Amandelbult mine in January, and a near collapse of the national power system in late January which shut down most of the country’s mines for five days.

“The second quarter is stacking up to be much better,” he said, “and production to the end of June will almost definitely be higher, barring any unforeseen circumstances.”
Anglo Platinum produced 428 600 oz of platinum in the first quarter, and expects an output of 2.4 Moz for the full year, compared with 2.47 Moz last year.

London-based Anglo American plc owns about 75% of Anglo Platinum.