2013 Performance Overview

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Anglo American Platinum Limited (Amplats) is the world’s leading primary producer of platinum group metals and accounts for approximately 40% of the world’s newly mined platinum. The Company is listed on the JSE Limited and has its headquarters in Johannesburg, South Africa. Amplats’ wholly owned South African mining operations in the Bushveld Complex include the Bathopele, Dishaba, Khomanani, Khuseleka, Mogalakwena, Siphumelele, Thembelani and Tumela mines. The Twickenham Platinum Mine remained under development during 2013.

In addition, the Group has a number of joint ventures, as follows: with Atlatsa Resources Corporation over the Bokoni Platinum Mine; ARM Mining Consortium Limited over the Modikwa Mine; Royal Bafokeng Resources over the combined Bafokeng-Rasimone Platinum Mine and Styldrift properties; the Bakgatla-Ba-Kgafela traditional community, which holds a 15% share in Union mine’s north and south mines; Eastern Platinum Limited (a subsidiary of Lonmin plc) and its partner, the Bapo-Ba-Mogale traditional community and Mvelaphanda Resources, over the Pandora joint venture; and Glencore Kagiso Tiso Platinum Partnership, to operate the Mototolo Mine. Amplats also has pooling-and-sharing arrangements with Aquarius Platinum (South Africa), covering the shallow reserves of the Kroondal and Marikana mines that are contiguous with its own Rustenburg mines.

The Group’s smelting and refining operations are wholly owned through Rustenburg Platinum Mines Limited and are situated in South Africa. These operations treat concentrates, not only from the wholly owned operations, but also from joint ventures and third parties. Elsewhere in the world, the Group operates the Unki Platinum Mine on the Great Dyke in Zimbabwe and is actively exploring in Brazil with joint-venture exploration partners.

     
2013
 
2012
%
Change
OPERATIONAL INDICATORS        
Tonnes milled 000 tonnes 39,516 38,6772
4E built-up head grade g/t 3.26 3.20 2
Equivalent refined Pt ounces1 000 Pt oz 2,320.4 2,219.15
Refined Pt ounce per operating employee Per annum 30.0 29.32
REFINED PRODUCTION        
Platinum (Pt) 000 oz 2,379.5 2,378.6 0
Palladium (Pd) 000 oz 1,380.8 1,395.9(1)
Rhodium (Rh) 000 oz 294.7 310.7(5)
Nickel (Ni) 000 tonnes 16.8 17.7(5)
Copper (Cu) 000 tonnes 8.3 11.4 (27)
FINANCIAL  PERFORMANCE        
Net sales revenue R million 52,404 42,838 22
Net sales revenue R/oz Pt sold 22,586 19,764 14
Cost of sales R million 46,208 41,948 10
Cost of sales R/oz Pt sold 19,916 19,354 3
Cash on-mine costs R/tonne milled 675 625 8
  R/oz equivalent      
Cash operating costs refined Pt 17,053 16,364 4
Gross profit on metal sales R million 6,196 890 596
Gross profit margin % 11.8 2.1 10
Headline earnings/(loss) R million 1,451 (1,468) 199
Net debt R million 11,456 10,491 9
Debt: equity ratio   1:4.0 1:4.0
Capital expenditure (including capitalised interest)R million 6,346 7,201 (12)
Return on average capital employed (ROCE) % 2.7 (11.7) 14
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG)        
Fatalities Number 6 7(14)
Lost-time injury-frequency rate Rate/200,000 hrs 1.05 1.15(9)
Employees (as at 31 December) Number 49,816 56,379(12)
HDSAs in management % 60 58.32
Sulphur dioxide emissions 000 tonnes 19,2 20.1(4)
GHG emissions, CO  equivalents2 2 000 tonnes 5,936 5,7433
Water used for primary activities Megalitres 28,311 28,755(2)
Energy use Terajoules 24,942 24,3922
Number of Level 3, 4 and 5 environmental incidents Number 1 0  
Corporate social investment R million 204 276(26)
1Mines’ production and purchases of metal in concentrate, secondary metals and other metals converted to equivalent refined production using Anglo American Platinum Limited’s standard smelting and refining recoveries.
2 Excludes Scope 3 emissions

2013 Annual Results Review