Power cuts and plant downtime cut miner’s first-quarter refined PGM output from 718,500oz to 626,000oz
Anglo American Platinum on Tuesday posted a 13% drop in first-quarter platinum group metal output thanks to power cuts and plant downtime.
Amplats said its refined PGM output fell to 626,000oz from 718,500oz in the first quarter of 2022, due partly to power cuts which affected 13 days of production and the equivalent of 26,500 PGM ounces. The miner warned previously that SA’s electricity crisis, blamed on frequent breakdowns of its ageing coal-fired plants, could see its PGM output down as much as 5% this year, tightening global supplies.
Amplats maintained its forecast for 2023 refined PGM production at 3.6-million to 4-million ounces, but said this was subject to power supply.
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