FACTBOX: The world's top platinum producers
LONDON (Reuters) - Anglo-Swiss miner Xstrata Plc (XTA.L) on Wednesday dropped a proposed $10 billion takeover bid for the world's number three platinum producer Lonmin Plc (LMI.L), blaming financing difficulties linked to the global credit crunch.
Xstrata made the bid in an effort to diversify its business away from industrial metals such as copper.
The price of platinum soared to record highs earlier this year amid fears over a supply shortage in major producer South Africa. But recently the price has suffered from liquidations by funds and worries that weaker economic growth will reduce demand from platinum's biggest consumer, the car industry, for catalysts to clean exhaust fumes.
Below is the latest available annual output of the world's top producers of refined platinum.
1. ANGLO PLATINUM (AMSJ.J)
- Refined platinum output from Angloplat, the world's largest producer, was 2.47 million ounces in the year to Dec 31, 2007, down 12 percent from the previous year. In the six months to June 30 this year, it was just over 1 million ounces, down 16 percent from the 1.19 million ounces produced in the same period last year.
- The dip in 2007 against the previous year partly reflected lower mine supply, which dropped 6 percent, the company said.
- Angloplat said in its results for the first half of 2008 that it was sticking by its forecast of a further decline in refined platinum output this year to 2.4 million ounces.
- It said in those results that lower-than-expected supplies from South Africa, the weak U.S. dollar and investment demand would continue to support high platinum prices. However, South African power supply problems, economic difficulties in the United States and potentially in Europe and fast-rising global inflationary trends were causing market uncertainty.
2. IMPALA PLATINUM (IMPJ.J)
- Implats said in its 2008 results that gross refined platinum output reached 1.907 million ounces in the year to June 30, 2008, down from 2.026 million ounces in 2007.
- The company said the fall came against the background of a difficult operating environment dominated by safety issues, the South African power crisis and a growing skills shortage.
3. LONMIN
- Lonmin said production of refined platinum in the year to September 30, 2007, fell 16 percent to 793,584 ounces from the year before. However, production rose to 282,650 ounces in the six months to March 31, 2008, against 259,434 ounces in the same period a year ago.
- The group said in its half-year results that it estimated that platinum sales in the 2008 financial year would be about 775,000 ounces, based on a steady improvement in the underlying performance of its mines in the second half. It said the guidance took account of the South African power problems, although any deterioration in the power supply situation or any further significant safety stoppages would put that target at risk.
4. NORILSK NICKEL (GMKN.MM) Continued...

