July 21, 2014 / 6:15 AM / in 4 years

BRIEF-Anglo American Platinum says to exit from Union, Rustenburg mines

July 21 (Reuters) - Anglo American Platinum Ltd :

* Final assessment of impact of strike confirms that total lost platinum production has amounted to an estimated 424k equivalent refined platinum ounces to 24 june 2014

* Board decided not to declare an interim dividend in 2014

* Gross sales revenue r27,855 million for 6 months ended june 30

* Profit before taxation r307 million for 6 months ended june

* Decision has been made to possibly exit certain assets that will be better placed in hands of a new owner

* Have decided that we will exit from union and rustenburg mines, and our pandora jv operation

* Assessing our bokoni jv operation and will make a further announcement on this in due course. We will seek to exit union and rustenburg in most appropriate manner whether through sale or a public market exit

* Basic headline eps 164 cents for 6 months ended june 30

* Pandora and possibly bokoni are jv assets that we believe most likely do not fit the envisaged future portfolio

* Envisage we will retain the remaining smelting and refining operations in both union and rustenburg in our portfolio

* Reducing both our refined production and sales guidance to between 2.0 to 2.1 moz, as pipeline stock needs to be replenished

* Capital expenditure guidance is r5.5 billion - r6.5 billion for 2014, excluding pre-production cost, capitalised waste stripping and interest Source text for Eikon: Further company coverage: [AMSJ.J AAL.L]

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below