Anglo Platinum announced a significant improvement on Monday in headline earnings for the half-year ended 30 June 2006.
Headline earnings per share, attributable to ordinary shareholders, increased by 117% to R20,02 per share, the company said in a statement in Johannesburg.
This was primarily the result of higher United States dollar metal prices achieved on all metals sold and increased sales volumes.
An interim dividend of R14 per ordinary share had been declared. Chief executive Ralph Havenstein said, ”We are pleased with the ongoing robust demand for platinum group metals at current prices and with our record half-year financial performance. We remain focused on increasing production at improved operating
efficiencies.”
Refined platinum production increased to 1,34-million ounces or by 6% when compared to the first half of 2005.
This was mainly due to increased mining production and the release of metal from pipeline stocks.
Refined platinum production for 2006 is expected to be between 2,7-million ounces and 2,8-million ounces.
Anglo Platinum said it was confident of the robustness of demand for platinum.
It would continue introducing an extensive suite of mining and processing projects to maintain current production levels and expand production at an average rate of five percent per annum.
”In 2006 the board approved projects to the value of R5,7-billion including the R3,8-billion PPRust North Expansion which will produce an additional 230 000 platinum ounces per annum from 2009,” said Ralph.
”Board approval of a vertical shaft at Paardekraal in Rustenburg, which will access [the] deeper Merensky reef, is expected shortly.” – Sapa