Johannesburg, South Africa — MININGREVIEW.COM — 14 January 2011 – Anglo Platinum “’ the world’s top producer of the precious metal “’ says that its full-year profit for 2010 is likely to have risen as much as seven-fold, assisted by continuing higher metal prices.
Majority-owned by global mining giant Anglo American, Angloplat said it expected headline earnings per share to total as much as 1 965 cents in the year to 31 December2010, compared with 289 cents a year earlier.
Shares of Angloplat gained 3.3% to R746 by 13.35 GMT yesterday, outperforming the Johannesburg Top-40 index of blue chips, which was slightly higher.
The company said that the results had been boosted by higher platinum prices. The precious metal had gained about 20% in 2010, and yesterday platinum hit its highest level since July 2008.