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Anglo American Platinum Interim Report For The Six Months Ended 30 June 2020

Mining News - Published on Wed, 29 Jul 2020

Image Source: Anglo American Platinum
Anglo American Platinum has reported a robust set of financial results and a strong safety performance, illustrating the resilience of the business despite significant headwinds. Anglo American Platinum CEO Natascha Viljoen said “Our results demonstrate our commitment to safe, responsible and profitable production, and reflect the incredible work done by our entire team during this challenging time. The strength of our business has supported our ability to continue paying employees throughout the lockdown, with ZAR 1.2 billion paid on salaries and benefits to employees not working during lockdown and those not able to return to work. In addition, we have invested ZAR2 50 million until the end of June in Covid-19 measures in the workplace and our host communities.”

Anglo American Platinum delivers solid financial performance with R13.1 billion of EBITDA, a 6% increase

Highlights:

ZAR 1.2 billion paid to employees not working during lockdown to ensure all employees receive their full salaries and benefits

ZAR 250 million invested in Covid-19 measures, including R55 million on community initiatives with various programmes benefiting over 1 million people

PGM production impacted by national lockdowns in South Africa and Zimbabwe – 585,000 ounces lost in H1 2020

Refined PGM production affected by the temporary shutdowns of the ACP for repairs and Eskom power outages that occurred in the first quarter

Earnings before interest, tax, depreciation and amortisation of ZAR 13.1 billion (H1 2019: R12.4 billion)

A stronger performance is expected in H2 2020, although significant headwinds and risks still exist, including the Covid-19 pandemic impacts, the repair of ACP Phase A, and potential for Eskom power outages

Source :

Posted By : Yogender Pancholi on Wed, 29 Jul 2020
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