High production output and sales volumes helped push Anglo Platinum’s headline earnings for 2004 to R2,62-billion, the company said on Monday.
This was 25,1% above headline earnings in 2003, Anglo Platinum’s chief executive Ralph Havenstein said.
”Headline earnings per share attributable to ordinary shareholders, which exclude preference share dividends, increased to R11,38 per share, 17,1% higher than in 2003.
”A final dividend of 335 cents per share has been declared,” he said in a statement.
Havenstein said his company achieved its refined platinum target of 2,45-million ounces, despite the impact of last year’s wage strike and the Polokwane smelter repair.
”Our process operations performed well in 2004 with lower unit costs and improved recoveries,” he said.
”Performance at the new converter plant exceeded our expectations, achieving our sulphur emission target of below 20 tonnes per day and allowing us to place the old converters on stand-by.”
Anglo Platinum’s plans for 2005 show capital expenditure of R6-billion and refined platinum production of 2,6-million ounces.
”While we remain flexible with regard to the rate of expansion, the revised implementation is expected to result in refined platinum production in 2006 of between 2,7-million and 2,8-million ounces,” Ralph said. – Sapa