Anglo American Platinum 2Q Production, Sales Volumes Fell; Backs 2023 View
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.-
What Does Nvidia’s Stock Split Mean for Investors?
-
5 Undervalued Stocks to Buy as Their Stories Play Out
-
Markets Brief: Return of the Meme Stocks
-
What’s Happening In the Markets This Week
-
It’s Been a Terrible Time for Bonds. Here’s Why You Should Own Them
-
Which AI Stocks Are Turning Hype Into Revenue?
-
Best- and Worst-Performing Stocks of May 2024
-
3 Stocks to Buy and 3 Stocks to Sell in June
-
What Does Broadcom’s Stock Split Mean for Investors?
-
5 Ultracheap Stocks to Buy With the Best Returns on Investment
-
Broadcom Earnings: AI Sales Growth Accelerates
-
Oracle Earnings: IaaS Signings More Than Make Up for Miss
-
This Undervalued Stock Is a Buy After Its Dividend Increase
-
After Earnings, Is Nio Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Lululemon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks