Anglo American Platinum : 2Q Production Plunged During Lockdown

By Jaime Llinares Taboada

Anglo American Platinum Ltd. said Thursday that its production declined 41% in the second quarter as lockdowns in response to the coronavirus hurt its operations in South Africa and Zimbabwe.

The South African mining company said its combined production of platinum, palladium, rhodium, iridium, ruthenium and gold fell to 665,100 ounces in April-June from 1.11 million ounces a year earlier. The group said that coronavirus-related stoppages led to a loss of around 521,600 ounces in the period.

Sales declined 55% reflecting output drops. However, the group reported that its realized basket price for the platinum metals group increased to $1,757 per ounce in the quarter, up from $1,275 a year earlier.

Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT