Wrap Text
PGMs production report for the third quarter ending 30 September 2024
Production Report
Anglo American Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
Share Code: AMS
ISIN: ZAE000013181
("The Company" or "Anglo American Platinum")
24 October 2024
Anglo American Platinum Limited
PGMs production report for the third quarter ending 30 September 2024
Overview – Q3 2024 performance against prior period Q3 2023
• Safety performance - safety remains our number one value, and we have a number of initiatives underway to
learn from experience and achieve our objective of zero harm. While no work-related fatalities were recorded for
the quarter, it is with great sadness that we report the tragic loss of one of our colleagues, Mr. Basanda Glen
Langeni, at Dishaba Mine, Amandelbult, on the morning of 8 October 2024.
• Own-managed mines Platinum Group Metals (PGMs) production (expressed as 5E+Au metal-in-concentrate)
decreased by 9% to 552,000 ounces when compared to the prior period. This was due to self-imposed safety
stoppages at Amandelbult and the primary mill breakdown at the beginning of the quarter at Mogalakwena's
North Concentrator which resulted in lower production. Despite these headwinds, our operational excellence
turnaround initiatives enabled levels of M&C production consistent with Q2 2024.
• Purchase of PGM concentrate (POC) decreased by 12%1 to 370,300 ounces, reflecting the transition of Kroondal
to a 4E toll arrangement, effective from 1 September 2024, as well as lower third-party receipts.
• Refined PGMs production (owned production, excluding tolling) increased by 22% to 1,106,900 ounces primarily
driven by the continued release of work-in-progress inventory compared to the same period last year.
• PGMs sales volumes (from production, excluding sales from trading) increased by 16% to 1,102,200 ounces,
supported by higher refined production.
• Guidance for 2024 production guidance for 2024 for M&C is unchanged at 3.3-3.7 million PGM ounces. However,
refined production guidance is revised up to 3.7-3.9 million ounces (previously 3.3-3.7 million ounces), assuming
no Eskom load-curtailment. This is on the back of strong and stable performance from our processing assets,
which enabled us to release built-up work-in-progress inventory.
We have delivered ~R8 billion of our targeted R10 billion cost and capital reduction programme and the
consultation process for Section189A restructuring has concluded with 90% of the exits finalised and the
remainder to be completed by end of 2024. Progress on our Action Plan including the business configuration
changes and further cost savings mean that we remain on track to be within our cost guidance range of R16,500-
R17,500 per PGM ounce for the year, more likely at the upper end of the range. We are also targeting an all-in
sustaining cost (AISC) of below US$1,050 per 3E ounce.
1 On a like-for-like basis to include 100% of Kroondal volumes in the comparative period.
Craig Miller, CEO of Anglo American Platinum, said:
"Our commitment to eliminate fatalities from our workplace remains our number one value. While we had no work-
related fatalities for the period, it is with great sadness and regret that we report the tragic loss of one of our
colleagues at Dishaba Mine, Amandelbult, on the morning of 8 October 2024. I wish to express our heartfelt
condolences to the family, friends and colleagues of Mr. Basanda Glen Langeni. We are conducting a full
investigation to understand the circumstances of the incident, ensuring that lessons are learned in order to prevent
any repeats of this tragic incident.
"The decrease in total PGM production of 10% for the quarter was mainly due to the breakdown at the primary mill
at the Mogalakwena North Concentrator on 1 July. That resulted in a four-week downtime and a loss of 45,000
ounces, although partly offset by improved performance at the South Concentrator. The other main driver was the
self-imposed safety stoppages at Amandelbult, which resulted in a loss of 20,000 ounces following the two tragic
fatalities in June, while the transition of the Kroondal volumes to a 4E toll arrangement effective 1 September also
played a role. Our strong performance in the latter part of the quarter, supported by our operational excellence
initiatives, enabled us to maintain production consistent with Q2 2024 and we remain on track to meet M&C
production guidance for 2024. The processing business had strong and stable performance through the period,
and this resulted in refined production and sales rising by 22% and 16% respectively as work-in-progress
inventories were released without constraints from load curtailment. Following this robust performance, we are
revising our guidance upwards for refined production for the year to 3.7-3.9 million ounces, assuming no Eskom
load-curtailment.
"We have continued to implement the productivity and operational excellence initiatives as part of our Action Plan to
create a more resilient business. The latest initiatives are well advanced and should be fully implemented by the end
of 2024. We have delivered ~R8 billion of our targeted R10 billion cost and capital reduction programme and the
consultation process for Section189A restructuring has concluded with 90% of the exits finalised and the remainder
to be completed by end of 2024. We also continue to progress towards a responsible and orderly separation from
Anglo American. Our management team and the independent board sub-committee are working alongside a
dedicated team within Anglo American to achieve this and I am confident that our demerger will be successfully
completed in 2025."
Anglo American Platinum Q3 2024 Q3 2024 YTD 2024
PGM Production Report - Q3 2024 Q3 Q2 Q1 Q4 Q3 vs vs YTD YTD vs
2024 2024 2024 2023 2023 Q3 2023 Q2 2024 2024 2023 YTD 2023
M&C PGM production1 adjusted for Kroondal2 922.3 921.0 834.1 932.2 1,029.6 (10)% — % 2,677.4 2,873.9 (7)%
Own mined volume3 552.0 547.2 504.3 579.8 607.9 (9) % 1% 1,603.5 1,705.8 (6)%
Purchase of concentrate (POC)4 370.3 373.8 329.8 352.4 421.7 (12) % (1)% 1,073.9 1,168.1 (8)%
M&C PGM production1 922.3 921.0 834.1 932.2 1,029.6 (10)% — % 2,677.4 2,873.9 (7)%
Own mined volume - as previously published 552.0 547.2 504.3 595.7 665.8 (17) % 1% 1,603.5 1,864.5 (14)%
Purchase of concentrate - as previously published 370.3 373.8 329.8 336.5 363.8 2 % (1)% 1,073.9 1,009.4 6%
Refined PGM production owned5 1,106.9 1,153.5 628.0 1,191.1 909.7 22 % (4)% 2,888.4 2,609.5 11%
4E Toll refined production 153.8 132.9 160.2 175.1 159.8 (4) % 16 % 446.9 445.5 — %
Total refined production (owned and toll) 1,260.7 1,286.4 788.2 1,366.2 1,069.5 18 % (2)% 3,335.3 3,055.0 9 %
PGM sales volume from production5 1,102.2 1,266.1 707.5 1,166.2 951.8 16 % (13)% 3,075.8 2,759.1 11 %
Trading sales volume6 1,973.7 2,092.4 1,200.1 1,050.3 1,220.9 62 % (6)% 5,266.2 3,286.1 60 %
Total sales volume (production and trading) 3,075.9 3,358.5 1,907.6 2,216.5 2,172.7 42 % (8)% 8,342.0 6,045.2 38 %
Numbers are independently rounded and minor variances might be present when performing additions, subtractions and calculations.
1
M&C refers to metal in concentrate. Ounces refer to troy ounces. PGMs consists of 5E + gold (platinum, palladium, rhodium, ruthenium and iridium plus gold).
2
Restated for prior periods to exclude Kroondal from mined volume and to include all prior period data for Kroondal as Purchase of concentrate. Kroondal was a
50% joint operation until 1 November 2023. Up until this date, the 50% equity share of production was presented under 'Own mined' production and the
remaining 50% of production that Anglo American Platinum purchased, was presented under 'Purchase of concentrate'. Upon the disposal of our 50% interest,
Kroondal transitioned to a 100% third-party POC arrangement. As expected, from 1 September 2024, Kroondal transitioned to a 4E toll arrangement on the
same basis as Sibanye-Stillwater.
3
PGM production from Mogalakwena, Amandelbult, Mototolo, Unki and 50% attributable production from joint operation Modikwa.
4
PGM production from third parties, 100% production of Kroondal and 50% purchased from joint operation Modikwa.
5
Refined and sales volumes owned by Anglo American Platinum referencing its annual guidance i.e. excluding toll refining volumes.
6
Trading sales volume - relates to sales of metal not produced by Anglo American Platinum operations.
Review of the quarter
Safety
We continued to focus on initiatives to reset our safety performance, with no work-related fatalities recorded during
the quarter. The independent investigation following the tragic loss of lives at Amandelbult in June 2024, has also
been concluded with work underway to address the findings and embed the identified areas for improvement to
prevent a repeat incident. All efforts are currently aimed at ensuring the safety of all employees and business
partners engaged in high-risk work with full oversight, across all our fatal risk standards.
Total recordable injury frequency rate (TRIFR) increased to 1.57 per million hours at our operations, up from 1.32 per
million hours, predominantly due to fewer hours worked as we embarked on safety stoppages across our operations,
as well as a lower number of employees compared to the prior period.
Metal-in-concentrate (M&C) PGM production
Total PGM production
Total PGM production in Q3 2024 decreased by 10% against the prior period (Q3 2023), to 922,300 ounces
predominantly due to lower production at Mogalakwena following the previously reported mill breakdown, the
impact of the self-imposed safety stoppages at Amandelbult, and the Kroondal transition to 4E toll arrangement.
Despite these negative impacts, we maintained the same levels of production compared to Q2 2024, reflecting
positive progress in our turnaround initiatives and operational excellence efforts.
PGM production from own mines
Own mined production was flat quarter-on-quarter at 552,000 ounces with lower Mogalakwena production, which
was offset by strong performance at the rest of the assets. PGM production decreased by 9% compared to prior
period, primarily due to lower output from Mogalakwena and Amandelbult.
As flagged in the half-year results, Mogalakwena's production of 217,800 ounces, was impacted in July by
downtime and repairs caused by an electrical failure in the North Concentrator's primary mill (45,000 ounces). The
mill returned to normal operating levels at the end of July. This impact was partially offset by improved performance
at the South Concentrator. Mining operations proceeded as planned, with an increase in ore tonnes mined (ex-pit
grade of 3g/t) and together with stockpiles fed brought the blended grade to 2.7g/t for the quarter. The full-year
blended grade guidance of 2.7-2.9g/t is maintained, albeit on the lower end.
PGM production at Amandelbult declined by 14% to 158,200 ounces, due to operational safety stoppages in July
aimed at resetting safety performance, following the double fatality that occurred in June, which negatively
impacted production by 20,000 ounces. However, Amandelbult maintained production levels from Q2 2024 (the
best quarterly performance in the last 12 months) reflecting positive progress in its turnaround initiatives and
operational excellence efforts.
Mototolo PGM production decreased by 3% to 74,100 ounces, largely attributed to difficult ground conditions as
Lebowa shaft reaches its end of life, which was partly offset by an increase in production at Borwa. Production
encouragingly reflected a 12% increase when compared to Q2 2024, reflecting improvements resulting from
measures put in place to address skill shortages and the implementation and stabilisation of the new seven-day
mining shift cycle. The development of the Der Brochen project, which will replace infrastructure closures at Lebowa,
is progressing with decline access established and the development of the four declines proceeding as planned.
First ore has been mined this quarter with production anticipated to ramp up in late 2025.
Unki production increased by 3% to 62,200 ounces, driven by higher underground throughput, while production at
Modikwa (50% own-mined) was flat at 39,700 ounces.
Purchases of PGM concentrate
Following the disposal of our 50% interest in Kroondal effective 1 November 2023, production at Kroondal has been
reported under a 100% third party purchase of concentrate (POC) arrangement, until the delivery of the agreed 1.35
million 4E ounces is achieved. With this condition now met, Kroondal transitioned from the 100% POC agreement to
a 4E tolling arrangement, effective 1 September 2024, as part of the toll-and-purchase agreement established with
Sibanye-Stillwater as part of the Rustenburg transaction in 2016.
On a like-for-like basis, where 100% of Kroondal volumes were included in third-party POC in the comparative
period, purchase of concentrate volumes decreased by 12%. The Kroondal toll transition accounted for ~50% of this
decrease, bringing the total to 370,300 ounces, reflecting lower receipts from third parties.
Refined PGM production
Refined PGM production (from owned production, excluding tolling) increased by 22% to 1,106,900 ounces primarily
due to the drawdown of work-in-progress inventory during the quarter. In addition, Q3 2023 reflected the impact of
an unplanned municipal water stoppage at our processing operations (54,000 PGM ounces).
Toll refined PGM production decreased by 4% to 153,800 PGM ounces for the quarter.
There was no Eskom load-curtailment year-to-date.
Base metal production
Nickel production increased by 37% to 7,400 tonnes and copper production increased by 48% to 4,600 tonnes
compared to the prior period. Q3 2023 was negatively impacted by an unplanned municipal water stoppage at our
processing operations.
The delivery of the agreed chrome tonnes from Glencore, as outlined in the 2018 sale agreement that included a
transfer of a 50% interest to the company, was successfully completed on 19 August 2024. As a result, the company
has begun operating the chrome plant and selling 100% of its production at market-based prices. During this
quarter, total chrome production amounted to 247,000 tonnes, with 17,000 tonnes attributed to the chrome plant at
Mototolo.
PGM sales volumes
PGM sales volumes (excluding trading) increased by 16% to 1,102,200 ounces, supported by higher refined
production.
The average Q3 2024 realised basket price of $1,477/PGM ounce was 4% (or 9% in ZAR terms) lower than Q3
2023, predominantly due to a 17% lower palladium price and 14% lower ruthenium price. The average year-to-date
realised basket price is flat compared to same period in 2023.
2024 guidance
Metal-in-concentrate PGM production guidance remains at 3.3-3.72 million ounces. We are revising our refined
production guidance up to 3.7-3.9 million ounces (from the previous 3.3 – 3.7 million ounces), assuming no Eskom
load-curtailment. This adjustment reflects the strong and stable performance of our processing assets, which
allowed us to release built-up work-in-progress inventory, in addition to no Eskom load-curtailment year-to-date.
We are on track to deliver on our cost reduction programme. The continued business configuration initiatives in the
second half of 2024, supplemented by further cost savings and a step-up in production will enable us to reach the
upper end of the 2024 unit cost guidance of R16,500-R17,500 per PGM ounce and a targeted all-in sustaining cost
(AISC) of below US$1,050 per 3E ounce.
We are working to deliver a responsible and orderly separation from Anglo American, building on a robust existing
foundation to establish a valuable stand-alone company with resilient performance driven by our operational
excellence initiatives. Our management team and the independent board sub-committee are working alongside a
dedicated team within Anglo American to achieve this during 2025.
2 Metal in concentrate (M&C) production by source is expected to be own mined of 2.1-2.3 million ounces and purchase of concentrate of 1.2-1.4 million ounces.
The average M&C split by metal is Platinum: ~45%, Palladium: ~35% and Other: ~20%.
Q3 Q3 YTD
Anglo American Platinum 2024 2024 2024
PGM Production Report - Q3 2024 Q3 Q2 Q1 Q4 Q3 vs vs YTD YTD vs
2024 2024 2024 2023 2023 Q3 Q2 2024 2023 YTD
2023 2024 2023
Safety
Fatalities - own managed operations number 0 2 0 0 0 (100)% (100)% 2 0 (100)%
Total recordable injury frequency rate (TRIFR) /million hrs 1.57 1.48 1.88 1.88 1.32 19 % 6% 1.61 1.62 (1)%
Mined production - previously published
PGM ounces produced 000 ounces 552.0 547.2 504.3 595.7 665.8 (17)% 1 % 1,603.5 1,864.5 (14)%
Platinum 000 ounces 249.8 250.3 229.9 270.9 304.0 (18)% —% 730.0 850.2 (14)%
Palladium 000 ounces 198.4 197.1 185.2 218.0 231.3 (14)% 1% 580.7 652.3 (11)%
Rhodium 000 ounces 32.3 30.9 27.9 33.3 41.5 (22)% 4% 91.1 113.6 (20)%
Other PGMs 000 ounces 71.5 68.9 61.3 73.5 89.0 (20)% 4% 201.6 248.5 (19)%
Tonnes milled 000 tonnes 5,979 6,142 5,921 6,249 6,808 (12)% (3)% 18,042 19,772 (9)%
4E built-up head grade1 g/t 3.22 3.17 3.05 3.35 3.29 (2)% 2% 3.15 3.18 (1)%
Mogalakwena
PGM ounces produced 000 ounces 217.8 232.6 219.5 265.3 246.8 (12)% (6)% 669.9 708.2 (5)%
Platinum 000 ounces 92.1 100.2 94.2 113.7 103.9 (11)% (8)% 286.5 297.9 (4)%
Palladium 000 ounces 101.2 106.1 100.4 122.1 113.5 (11)% (5)% 307.7 325.2 (5)%
Rhodium 000 ounces 6.1 6.3 6.2 7.4 7.7 (21)% (3)% 18.6 21.9 (15)%
Other PGMs 000 ounces 18.4 20.0 18.7 22.1 21.7 (15)% (8)% 57.1 63.2 (10)%
Tonnes milled 000 tonnes 3,167 3,483 3,515 3,418 3,485 (9)% (9)% 10,165 10,238 (1)%
4E built-up head grade1 g/t 2.68 2.60 2.45 3.00 2.75 (2)% 3% 2.57 2.64 (3)%
Amandelbult
PGM ounces produced 000 ounces 158.2 157.6 127.1 149.9 184.9 (14)% —% 442.9 484.3 (9)%
Platinum 000 ounces 79.5 80.5 65.4 76.3 93.9 (15)% (1)% 225.4 245.8 (8)%
Palladium 000 ounces 37.0 36.9 30.0 35.4 43.6 (15)% —% 103.9 112.9 (8)%
Rhodium 000 ounces 14.6 14.2 11.5 13.8 16.9 (13)% 3% 40.3 44.2 (9)%
Other PGMs 000 ounces 27.1 26.0 20.2 24.4 30.5 (11)% 4% 73.3 81.4 (10)%
Tonnes milled 000 tonnes 1,101 1,146 924 1,106 1,223 (10)% (4)% 3,171 3,279 (3)%
4E built-up head grade1 g/t 4.44 4.48 4.53 4.27 4.37 2% (1)% 4.48 4.26 5%
Mototolo
PGM ounces produced 000 ounces 74.1 66.3 61.9 66.5 76.1 (3)% 12 % 202.3 222.2 (9)%
Platinum 000 ounces 33.6 30.2 27.9 29.8 34.6 (3)% 11 % 91.7 101.3 (9)%
Palladium 000 ounces 21.7 19.6 18.5 19.9 22.6 (4)% 11 % 59.8 65.2 (8)%
Rhodium 000 ounces 5.9 5.4 5.0 5.3 6.1 (4)% 8% 16.3 17.8 (8)%
Other PGMs 000 ounces 12.9 11.1 10.5 11.5 12.8 1% 17 % 34.5 37.9 (9)%
Tonnes milled 000 tonnes 697 617 559 603 685 2% 13 % 1,873 2,063 (9)%
4E built-up head grade1 g/t 3.35 3.42 3.52 3.47 3.49 (4)% (2)% 3.43 3.40 1%
Unki
PGM ounces produced 000 ounces 62.2 54.7 62.8 61.8 60.5 3% 14 % 179.7 182.0 (1)%
Platinum 000 ounces 28.1 24.7 28.6 28.3 27.3 3% 14 % 81.4 82.9 (2)%
Palladium 000 ounces 24.0 21.1 24.3 23.4 22.6 6% 13 % 69.4 69.5 —%
Rhodium 000 ounces 2.8 2.4 2.8 2.7 2.9 (3)% 17 % 8.0 8.1 (2)%
Other PGMs 000 ounces 7.3 6.5 7.1 7.4 7.7 (5)% 14 % 20.9 21.5 (3)%
Tonnes milled 000 tonnes 687 609 654 666 615 12 % 13 % 1,950 1,890 3%
4E built-up head grade1 g/t 3.30 3.30 3.49 3.39 3.54 (7)% — % 3.37 3.48 (3)%
Modikwa joint operation (AAP share)2
PGM ounces produced 000 ounces 39.7 36.0 33.0 36.3 39.6 —% 10 % 108.7 109.1 —%
Platinum 000 ounces 16.5 14.7 13.8 15.1 16.2 2% 13 % 45.0 44.5 1%
Palladium 000 ounces 14.5 13.4 12.0 13.2 14.5 —% 8% 39.9 40.3 (1)%
Rhodium 000 ounces 2.9 2.6 2.4 2.7 3.0 (3)% 11 % 7.9 8.2 (3)%
Other PGMs 000 ounces 5.8 5.3 4.8 5.3 5.9 (2)% 9% 15.9 16.1 (1)%
Tonnes milled 000 tonnes 327 287 269 321 326 —% 14 % 883 932 (5)%
4E built-up head grade1 g/t 3.90 3.93 3.81 3.64 3.83 2% (1)% 3.88 3.67 6%
Kroondal joint operation (AAP share)3
PGM ounces produced 000 ounces — — — 15.9 57.9 (100)% (100)% 0.0 158.7 (100)%
Platinum 000 ounces — — — 7.7 28.1 (100)% (100)% 0.0 77.8 (100)%
Palladium 000 ounces — — — 4.0 14.5 (100)% (100)% 0.0 39.3 (100)%
Rhodium 000 ounces — — — 1.4 4.9 (100)% (100)% 0.0 13.4 (100)%
Other PGMs 000 ounces — — — 2.8 10.4 (100)% (100)% 0.0 28.2 (100)%
Tonnes milled 000 tonnes — — — 135 474 (100)% (100)% 0 1,370 (100)%
4E built-up head grade1 g/t — — — 3.22 3.57 (100)% (100)% 0.00 3.49 (100)%
Purchase of concentrate - previously published
PGM ounces produced 000 ounces 370.3 373.8 329.8 336.5 363.8 2 % (1)% 1,073.9 1,009.4 6 %
Platinum 000 ounces 171.2 173.9 154.0 158.0 171.9 — % (2)% 499.1 479.5 4 %
Palladium 000 ounces 86.5 89.3 79.5 78.5 83.5 4 % (3)% 255.3 233.0 10 %
Rhodium 000 ounces 24.9 26.5 23.1 22.9 24.5 2 % (6)% 74.5 67.2 11 %
Other PGMs 000 ounces 87.6 84.1 73.2 77.1 83.9 4 % 4% 244.9 229.7 7 %
Q3 Q3 YTD
Anglo American Platinum 2024 2024 2024
PGM Production Report - Q3 2024 Q3 Q2 Q1 Q4 Q3 vs vs YTD YTD vs
2024 2024 2024 2023 2023 Q3 Q2 2024 2023 YTD
2023 2024 2023
Refined production owned
PGM ounces refined 000 ounces 1,106.9 1,153.5 628.0 1,191.1 909.7 22 % (4)% 2,888.4 2,609.5 11 %
Platinum 000 ounces 536.9 554.0 272.7 565.2 428.5 25 % (3)% 1,363.6 1,183.9 15 %
Palladium 000 ounces 341.7 372.5 206.4 400.0 285.5 20 % (8)% 920.6 868.6 6%
Rhodium 000 ounces 70.2 70.8 39.6 61.3 57.1 23 % (1)% 180.6 164.3 10 %
Other PGMs 000 ounces 158.1 156.2 109.3 164.6 138.6 14 % 1% 423.6 392.7 8%
Nickel tonnes 7,400 7,300 4,700 7,000 5,400 37 % 1% 19,400 14,800 31 %
Copper tonnes 4,600 4,600 3,300 4,000 3,100 48 % —% 12,500 9,700 29 %
Chrome 000 tonnes 247 249 199 265 265 (7)% (1)% 695 708 (2)%
Toll refining
PGM ounces refined 000 ounces 153.8 132.9 160.2 175.1 159.8 (4)% 16 % 446.9 445.5 —%
Platinum 000 ounces 90.8 78.0 93.5 103.8 94.7 (4)% 16 % 262.3 264.0 (1)%
Palladium 000 ounces 48.3 41.8 49.2 54.5 50.1 (4)% 16 % 139.3 137.3 1%
Rhodium 000 ounces 12.4 11.0 15.1 14.1 12.7 (3)% 13 % 38.5 36.7 5%
Gold 000 ounces 2.3 2.1 2.4 2.6 2.4 (4)% 7% 6.8 7.4 (9)%
Sales volume from production
PGM ounces 000 ounces 1,102.2 1,266.1 707.5 1,166.2 951.8 16 % (13)% 3,075.8 2,759.1 11 %
Platinum 000 ounces 527.4 583.8 282.0 554.2 441.8 19 % (10)% 1,393.2 1,234.5 13 %
Palladium 000 ounces 325.2 404.4 229.7 397.0 296.3 10 % (20)% 959.3 892.1 8%
Rhodium 000 ounces 69.0 73.6 42.6 62.4 61.5 12 % (6)% 185.2 168.8 10 %
Other PGMs 000 ounces 180.6 204.3 153.2 152.6 152.2 19 % (12)% 538.1 463.7 16 %
Trading4
PGM ounces 000 ounces 1,973.7 2,092.4 1,200.1 1,050.3 1,220.9 62 % (6)% 5,266.2 3,286.1 60 %
Platinum 000 ounces 1,187.8 1,186.2 668.3 565.8 724.5 64 % — % 3,042.3 2,228.0 37 %
Palladium 000 ounces 685.9 728.5 450.7 417.7 421.5 63 % (6)% 1,865.1 850.4 119 %
Rhodium 000 ounces 25.0 49.9 6.1 6.9 14.6 71 % (50)% 81.0 47.4 71 %
Other PGMs 000 ounces 75.0 127.8 75.0 59.9 60.3 24 % (41)% 277.8 160.3 73 %
Realised metal, Fx and realised basket prices
Platinum (US$/oz) 952 1,000 889 867 933 2% (5)% 959 981 (2)%
Palladium (US$/oz) 1,027 985 1,043 1,034 1,244 (17)% 4% 1,013 1,437 (29)%
Rhodium (US$/oz) 4,699 4,651 4,563 4,498 4,453 6% 1% 4,649 7,366 (37)%
Iridium (US$/oz) 4,484 4,573 4,841 4,782 4,347 3% (2)% 4,628 4,361 6%
Ruthenium (US$/oz) 345 343 362 388 400 (14)% 1% 349 415 (16)%
Gold (US$/oz) 2,800 2,510 2,182 2,054 1,924 46 % 12 % 2,481 1,951 27 %
Average Fx achieved on sales ZAR/US$ 17.84 18.54 18.94 18.73 18.54 (4)% (4)% 18.37 18.41 —%
US$ realised basket price (/PGM oz) 1,477 1,419 1,483 1,400 1,539 (4)% 4% 1,455 1,766 (18)%
ZAR realised basket price (/PGM oz) 25,888 26,011 28,218 26,111 28,521 (9)% —% 26,475 32,610 (19)%
Numbers are independently rounded and minor variances might be present when performing additions, subtractions and calculations.
1
4E: the grade measured as the combined content of: platinum, palladium, rhodium and gold, excludes tolled material. Minor metals are excluded due to variability.
2
Modikwa is a 50% joint operation. The 50% equity share of production is presented under 'Own mined' production. Anglo American Platinum purchases the
remaining 50% of production, which is presented under 'Purchase of concentrate'.
3
Kroondal was a 50% joint operation until 1 November 2023. Up until this date, the 50% equity share of production was presented under 'Own mined' production
and the remaining 50% of production, that Anglo American Platinum purchased, was presented under 'Purchase of concentrate'. Upon the disposal of our 50%
interest, Kroondal transitioned to a 100% third-party POC arrangement. As expected, from 1 September 2024, Kroondal transitioned to a 4E toll arrangement on
the same basis as Sibanye-Stillwater.
4
Trading sales volume - relates to sales of metal not produced by Anglo American Platinum operations.
Sponsor:
Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities
For further information, please contact:
Investors: Media:
Theto Maake Cindy Maneveld
(SA) +27 (0) 83 489 5215 (SA) +27 (0) 84 530 6866
theto.maake@angloamerican.com cindy.maneveld@angloamerican.com
PlatinumIR@angloamerican.com
Marcela Grochowina
(SA) +27 (0) 82 400 3222
marcela.grochowina@angloamerican.com
PlatinumIR@angloamerican.com
Notes to editors:
Anglo American Platinum Limited is a member of the Anglo American plc Group and is a leading primary producer
of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining,
smelting, and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum
Mine in Zimbabwe. Anglo American Platinum is committed to the highest standards of safety and continues to make
a meaningful and sustainable difference in the development of the communities around its operations.
www.angloamericanplatinum.com
Anglo American is a leading global mining company focused on the responsible production of copper, premium iron
ore and crop nutrients – future-enabling products that are essential for decarbonising the global economy,
improving living standards, and food security. Our portfolio of world-class operations and outstanding resource
endowments offers value-accretive growth potential across all three businesses, positioning us to deliver into
structurally attractive major demand growth trends.
Our integrated approach to sustainability and innovation drives our decision-making across the value chain, from
how we discover new resources to how we mine, process, move and market our products to our customers – safely,
efficiently and responsibly. Our Sustainable Mining Plan commits us to a series of stretching goals over different time
horizons to ensure we contribute to a healthy environment, create thriving communities and build trust as a
corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value
from precious natural resources for our shareholders, for the benefit of the communities and countries in which we
operate, and for society as a whole. Anglo American is re-imagining mining to improve people's lives.
Anglo American is currently implementing a number of major structural changes to unlock the inherent value in its
portfolio and thereby accelerate delivery of its strategic priorities of Operational excellence, Portfolio simplification,
and Growth. This portfolio transformation will focus Anglo American on its world-class resource asset base in
copper, premium iron ore and crop nutrients, once the sale of our steelmaking coal and nickel businesses, the
demerger of our PGMs business (Anglo American Platinum), and the separation of our iconic diamond business (De
Beers) have been completed.
www.angloamerican.com
Date: 24-10-2024 08:00:00
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