daniel chigunwe
Enacy Mapakame
Anglo American Platinum’s local unit, Unki Mine, recorded PGM production for the second quarter to June 30, 2024 fell by 7 percent to 54 700 ounces, weighing the group’s performance.
The group attributed the decline to mining going through a planned lower-grade section. Despite the lower grades, adjustments in stope width are anticipated to restore grades to normalised levels in the second half of the year.
During the quarter period, platinum, palladium and rhodium went down 9 percent, 7 percent and 4 percent in that respective order. Statistics from the group show that tonnes milled fell 2 percent during the quarter compared to same period in the prior year.
At group level, Anglo’s performance showcased a mix of challenges and progress, with a focus on operational excellence and safety.
Total PGM production in the second region decreased by 2 percent compared to the prior period in 2023, reaching 921 000 ounces.
However, this marked a 10 percent increase from the previous quarter, reflecting early-stage progress in the operational excellence efforts at Amandelbult.
PGM production from Anglo American Platinum’s own mines increased by 9 percent to 547 200 ounces compared to the previous quarter, but decreased by 3 percent compared to the prior period. The group said this was primarily due to lower output from Mototolo, Mogalakwena and Unki, partially offset by increased production at Amandelbult.
Mogalakwena’s production decreased by 4 percent to 232 600 ounces due to the blending of planned low-grade ore stockpiles as the new bench cut sequence progressed.
Grades are expected to increase in the second half of the year, with the full-year grade anticipated to be within the guided range of 2,7 to 2,9 grade per tonne.
Refined PGM production (from owned production, excluding tolling) increased by 7 percent to 1,153,500 ounces, driven by the release of work-in-progress inventory compared to the same period last year.
PGM sales volumes (excluding trading) increased by 14 percent to 1 266 100 ounces, supported by higher refined production and a draw-down of finished goods.
However, the company faced a significant challenge with two tragic work-related fatalities at Dishaba Mine on June 7.
While, Anglo chief executive officer (CEO), Craig Miller, expressed satisfaction with the company’s progress in reconfiguring its business, he also emphasised the importance of safety following the tragic fatalities at the Dishaba operation.
“Our operational excellence initiatives are yielding encouraging results. Own mine metal-in-concentrate (M&C) production increased by 9 percent quarter on quarter, and compared to the previous year, refined production and sales have risen by 7 percent and 14 percent, respectively,” he stated.
Looking ahead, Anglo American Platinum’s production guidance for 2024 remains unchanged at 3,3 to 3,7 million PGM ounces, subject to the impact of Eskom load curtailment.
The company is on track to deliver on its cost-out programme and achieve its targeted all-in sustaining cost (AISC) of below US$1 050 per 3E ounce.
Bongani Ndlovu