Anglo American Platinum Cuts Full-Year Production Guidance
Anglo American Platinum Cuts Full-Year Production Guidance. JO) said Tuesday that it has reduced its full-year total platinum production guidance, citing a total of 150,000 ounces of unprofitable platinum production from its Bokoni and Maseve mines in South Africa during the quarter ended Sep. 30. The Johannesburg-listed miner has revised its guidance for the year down to between 2.30 million and 2.35 million platinum ounces, from between 2.35 million and 2.40 million ounces announced previously. Comparable production of refined platinum, meanwhile, slowed 2% during the period, to 684,100 ounces, due to additional inventory that had built-up. The company said that comparable sales volumes for the period increased 13%, to 663,600 ounces.