Anglo Platinum, the world’s number one producer of the precious metal, reported a six-fold increase in first-half profit on Monday, helped by higher metal prices and forecast an increase in production.
Anglo Platinum, a unit of global miner Anglo American, said it expected to refine and sell a total of 2,5-million ounces of platinum and it would keep unit cash costs per equivalent refined platinum ounce around last year’s levels.
The company said headline earnings for the six months to end-June rose 532% to R2,6-billion.
Headline earnings are the main gauge of profit in South Africa and strip out certain one-time items.
AngloPlat said gross sales revenue increased by R3,7-billion to R20,9-billion. — Reuters