ANGPY Anglo American Platinum Ltd (PK)

By Kyle Morris

Anglo American Platinum Ltd. said Friday that 2022 refined production and metal-in-concentrate production are expected to be within the guided range despite several headwinds encountered during the year.

The South African precious-metals miner--which is majority-owned by Anglo American PLC--said that metal-in-concentrate production for 2022 should be around 4.0 million ounces with refined production at around 3.8 million ounces.

Inflationary cost pressures persist, resulting in a unit cost of around 15,300 South African rand ($891.28) per ounce of platinum group metals and a strong focus on cost mitigation and containment will be maintained in 2023, Chief Executive Natascha Viljoen said.

For 2023, the company has lowered its metal-in-concentrate production forecast to 3.6 million-4.0 million ounces from 4.1 million-4.5 million ounces previously. Refined production is now seen at 3.6 million-4.0 million ounces compared with the 3.8 million-4.2 million ounces previously forecast. Unit cost for 2023 is seen at ZAR16,800-ZAR17,800.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

December 09, 2022 04:11 ET (09:11 GMT)

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