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Anglo American completes rebuild of plant
StockMarketWire.com
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Anglo American has announced it has successfully completed the rebuild of a South African converter plant following its temporary shutdown in March.
The rebuild and recommissioning of the Anglo Converter Plant (ACP) Phase A unit was confirmed today in an announcement to the Johannesburg Stock Exchange.
The company said that the ACP Phase A is now in ramp-up and on track to be operating at full capacity by the end of the year.
"The ACP operations and projects teams have done an extraordinary job in safely completing the rebuild and recommissioning of the ACP Phase A unit, Natascha Viljoen, chief executive officer of Anglo American Platinum, said in a statement.
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.
The company said first converter matte is now ready to be dispatched, allowing it 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, Viljoen added.
Anglo American updated its guidance for refined production for 2020 to between 2.6 to 2.7 million PGM ounces, from the previous estimate of 2.5 million.
At 1:12pm: (LON:AAL) Anglo American PLC share price was 0p at 2094p
Story provided by StockMarketWire.com
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