Anglo American Platinum has posted an adjusted EBITDA of R12.3 billion
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GUEST – Craig Miller, CEO of Anglo American Platinum
Highlights
Stringent safety measures implemented to prevent recurrence of two tragic fatalities and improve safety.
Refined PGM production up 5% in H1 2024 to 1.78 million ounces compared to the prior period, while metal-in-concentrate down 5% to 1.76 million ounces
Sales volumes increased 9%, due to draw down of inventory.
R12.3 billion EBITDA, down 8% on the prior period, despite a 24% decline in realised PGM dollar basket prices to $1,442, inflation and once-off restructuring costs, which were partially offset by cost reductions and higher sales.
On track to meet R10 billion capital expenditure and cost out target for 2024, with ~R4.7 billion of savings in H1 2024, of which ~R2.9 billion were operating costs and ~R1.8 billion stay in business capital.
Achieved an all-in sustaining cost (AISC) of $957 per 3E ounce, well ahead of the 2024 target of below ~$1,050; on track to sustain cash generation through a low PGM price cycle.
Restructuring progressing at pace, with statutory employee consultation complete and Mortimer Smelter on care and maintenance from end of April 2024
Strong net cash position of R14.5 billion, including the customer prepayment
Interim dividend of R2.6 billion, or R9.75 per share, equivalent to 40% payout of headline earnings in line with capital allocation framewo
Highlights
Stringent safety measures implemented to prevent recurrence of two tragic fatalities and improve safety.
Refined PGM production up 5% in H1 2024 to 1.78 million ounces compared to the prior period, while metal-in-concentrate down 5% to 1.76 million ounces
Sales volumes increased 9%, due to draw down of inventory.
R12.3 billion EBITDA, down 8% on the prior period, despite a 24% decline in realised PGM dollar basket prices to $1,442, inflation and once-off restructuring costs, which were partially offset by cost reductions and higher sales.
On track to meet R10 billion capital expenditure and cost out target for 2024, with ~R4.7 billion of savings in H1 2024, of which ~R2.9 billion were operating costs and ~R1.8 billion stay in business capital.
Achieved an all-in sustaining cost (AISC) of $957 per 3E ounce, well ahead of the 2024 target of below ~$1,050; on track to sustain cash generation through a low PGM price cycle.
Restructuring progressing at pace, with statutory employee consultation complete and Mortimer Smelter on care and maintenance from end of April 2024
Strong net cash position of R14.5 billion, including the customer prepayment
Interim dividend of R2.6 billion, or R9.75 per share, equivalent to 40% payout of headline earnings in line with capital allocation framewo
