Anglo reports 'solid' 3d qtr production levels

Oct 26, 2012 | 02:10 PM | Claire Hack

Tags  Anglo American, platinum, copper, nickel, manganese, production, third quarter

LONDON — Anglo American Plc has reported a "solid operational performance" in the third quarter of 2012, with production increases across five of its seven commodities despite continuing disruptions at its platinum operations in South Africa.

Refined platinum production was flat at 649,000 ounces, while equivalent refined platinum production fell 6 percent to 626,300 ounces.

"Production and costs were adversely affected by illegal industrial action (at the South African platinum operations), which caused production loss of 42,000 ounces of equivalent refined platinum in the quarter," the London-based miner said.

Production was down at the Union North and South, Mogalakwena, Tumela and Siphumelele mines, Anglo said. Amandelbult and Union North and South have also been hit by strikes.

Production was down 23 percent at Union North and down 26 percent at Union South as a result of lower grades and other factors.

Mogalakwena production fell as a result of the breakdown of the primary crusher at the North concentrator, as well as lower head grade.

Platinum production at Rustenburg, meanwhile—which was heavily affected by the strikes between July and September—came to 148,100 ounces for the three months ended Sept. 30, down just 0.3 percent, and up 2 percent quarter on quarter despite the loss of 42,000 ounces of output. ....