14 January 2013
Anglo American Platinum Limited is currently finalising its results for the year ended 31 December 2012 (“the period”), which will be released on SENS on or about 4 February 2013.
Headline earnings per share (“HEPS”) for the period is expected to decrease to a loss of between 491 cents and 628 cents from a profit of 1,365 cents reported for the year ended 31 December 2011 (“the comparative period”).
The expected decrease in HEPS is primarily due to lower sales volumes and lower realised prices during 2012. Platinum sales volumes for the period were lower primarily due to the two-month illegal industrial action experienced during the second half of 2012.As a result of the illegal industrial action, the initial safety suspensionand the ramp up period, which commenced 16 November 2012, total lost equivalent refined platinum production, including from joint ventures and associates, amounted to 306 koz. The losses in production resulted in an increase in unit cash operating cost in 2012, due to the retained fixed cost base which further negatively impacted on HEPS for the period.
Basic earnings per share for the period is expected to decrease to a loss of between 2,487 cents and 2,624 cents from a profit of 1,374 cents for the comparative period. Basic earnings for the period includes losses of R463million resulting from the revaluation of certain investments and R6,606 million (after-tax R4,756 million) for the write downin the carrying value of various projects and other assets, not in use, that are considered not economically viable in the current market environment.
The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors.
For further information, please contact:
+27 (0) 11 373 6239
Tel: +27 (0) 11 373 6246
Notes to editors:
Anglo American Platinum Limited is a member of the Anglo American plc Group and is the world’s leading primary producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe and is actively exploring in Brazil. Anglo American Platinum has a number of joint ventures with several historically disadvantaged South African consortia as part of its commitment to the transformation of the mining industry. Anglo American Platinum is committed to the highest standards of safety and continues to make meaningful and sustainable difference in the development of the communities around its operations. www.angloamericanplatinum.com
Anglo American is one of the world’s largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American’s portfolio of mining businesses spans bulk commodities – iron ore and manganese, metallurgical coal and thermal coal; base metals – copper and nickel; and precious metals and minerals – in which it is a global leader in both platinum and diamonds. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company’s mining operations, extensive pipeline of growth projects and exploration activities span Southern Africa, South America, Australia, North America, Asia and Europe. www.angloamerican.com