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Anglo American Platinum cuts refined PGM guidance as processing plant to shutter for rebuild
StockMarketWire.com
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Mining company Anglo American Platinum cut its said guidance on sales and output of refined precious group metals after taking the decision to close the Anglo converter plant phase B unit, following a series of water leaks for a full rebuild in 2021.
As a result of the closure of the ACP Phase B unit, the company lowered its refined production and sales guidance for 2020 to 2.5 million PGM ounces, from 3.1-to-3.3 million PGM ounces previously.
There was no change to other guidance, including M&C production which remained at between 3.6-to-3.8 million PGM ounces.
Whilst the management team had been able to complete repairs to previous water leaks, after a comprehensive assessment, and with further water leaks discovered, the ACP Phase B unit now required more extensive repair work.
At 9:33am: (LON:AAL) Anglo American PLC share price was -62.8p at 1806.6p
Story provided by StockMarketWire.com
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