PGMs production up, sales tumbled!
Production grew by 5% & Sales volume Falls by 3% YoY at Anglo American Anglo American Platinum announces another strong financial and operational performance for the 12 months for the year 2018. Commenting on the results, Anglo American Platinum CEO Chris Griffith said, “The fact that two of our colleagues died at work in 2018 is deeply tragic and felt by every one of us. Notwithstanding the significant improvement in the number of fatalities and injury rates, these tragic deaths have heightened our resolve and efforts to eliminate fatalities. “Operationally and financially, we had a very strong year. Record production performances from Mogalakwena, Unki and Kroondal saw total platinum group metal (PGM) production increasing by 4%. We increased our free cash flow by 60% and reduced net debt by R4.7 billion turning to a net cash position of R2.9bn at the end of 2018. I am pleased to report that, given this performance and the improving market outlook for PGMs,