By Christian Moess Laursen

Anglo American Platinum said Thursday that platinum production and sales volumes fell in the second quarter, but backed its full-year production and unit-cost guidance.

The South African precious metals company, which is majority owned by Anglo American PLC, said platinum group metals production fell 10% to 526,700 ounces.

The fall was mainly due to short-term operational challenges and infrastructure closures at the Amandelbult mine, as well as expected lower grades at Mogalakwena, it said.

Sales volumes for platinum metals group decreased by 8% to 1.11 million ounces due to refined production falling 13% to 1.07 million ounces.

Looking ahead, Anglo American Platinum reaffirmed its full-year guidance for production and unit costs.

"We remain on track to achieve our 2023 guidance, with a strong focus on demonstrating our resilience through safe, stable, and capable operations for the remainder of the year," Chief Executive Natascha Viljoen said.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

July 20, 2023 03:24 ET (07:24 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Anglo American Platinum (PK) (USOTC:ANGPY)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Anglo American Platinum (PK) Charts.
Anglo American Platinum (PK) (USOTC:ANGPY)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Anglo American Platinum (PK) Charts.