Anglo American Platinum Increases 2021 Guidance, Approves Mototolo's Project Extension

By Sabela Ojea

Anglo American Platinum Ltd. said Friday that it has increased its refined production guidance for 2021, adding that it has lowered it for 2022 on metal-in-concentrate production and other costs.

The South African precious-metals miner--which is majority-owned by Anglo American PLC--added that the board has approved the Mototolo/Der Brochen life extension project in South Africa, while adding that its 2021 metal-in-concentrate is likely to be within guidance.

However, the company also said that its 2022 refined production has been revised down to between 4.2 million and 4.6 million platinum group metals ounces, down from guidance of between 5.0 million and 5.1 million ounces for 2021.

Metal-in-concentrate production will remain flat in 2023 and 2024, it added, noting that it will suffer lower refined PGM production in 2023. Refined production in 2024 should recover to between 4.1 million PGM ounces and 4.5 million PGM ounces, it said.

Write to Sabela Ojea at [e-mail]; @sabelaojeaguix

(END) Dow Jones Newswires

December 10, 2021 03:00 ET (08:00 GMT)

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