04:06 Mon 07 Dec 2020
Anglo American PLC - Anglo American Platinum completes ACP - A rebuild
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Anglo American Platinum safely completes the ACP Phase A rebuild |
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Anglo American plc notes the announcement by Anglo American Platinum Limited released today to the Johannesburg stock exchange. The text of the announcement is copied below:
Anglo American Platinum has safely and successfully completed the rebuild of the Anglo Converter Plant (ACP) Phase A unit, with first converter matte ready to dispatch to our
"The ACP operations and projects teams have done an extraordinary job in safely completing the rebuild and recommissioning of the ACP Phase A unit. We were able to procure and deliver long lead-time items to site six months ahead of schedule, despite the impact of Covid-19 on supply chains, enabling us to bring forward the rebuild to the end of 2020, ahead of our initial expectations of Q2 2021. First converter matte is now ready to be dispatched, allowing us to re-establish the processing pipeline to finished metals. I am also pleased that our marketing team has worked tirelessly with our customers to mitigate the impact of the interruption and manage our contractual obligations during this period."
As a result of the early completion and a safe and stable restart, the Company has upgraded refined production guidance for 2020 to between 2.6 - 2.7 million PGM ounces (previously c.2.5 million PGM ounces)1. Sales volumes have also been upgraded to c.2.8 million PGM ounces, as minor metal refined inventories have been drawn down. The release of the work-in-progress inventory built up in 2020 is expected to take up to 24 months.
For further information, please contact:
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Investors |
james.wyatt-tilby@angloamerican.com
marcelo.esquivel@angloamerican.com
sibusiso.tshabalala@angloamerican.com
Nomonde Ndwalaza Nomonde.ndwalaza@angloamerican.com
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paul.galloway@angloamerican.com
robert.greenberg@angloamerican.com
emma.waterworth@angloamerican.com
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Notes to editors:
* Unaudited EBITDA impact of the ACP Phase B shut-down in
The ACP plant is a key part of Anglo American Platinum's PGM production process, treating furnace matte from the company's smelters. At the ACP plant, sulphur and iron contained in the furnace matte from the smelters are converted to sulphur dioxide and slag. The resulting converter matte is then slow-cooled to concentrate PGMs into a metallic fraction. From the ACP, material moves to the Magnetic Concentration Plant (MCP), where the converter matte is milled and the PGM fraction is separated magnetically. The PGM-bearing material then moves from the MCP to the
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