OVERVIEW

• Commitment to zero harm – no fatalities in the period and our longest fatal free period of 324 days as at 31 March 2016
• Group platinum production (expressed as metal in concentrate) increased 4% to 567,000 ounces due to an increase in production at Amandelbult, Mogalakwena and Unki, partially offset by lower production at Rustenburg
• Refined platinum production decreased by 52% to 261,000 ounces due to a planned stock take at the PMR and a Section 54 Stoppage which closed the Precious Metals Refiney (“PMR”) for 12 days, and materially impacted production for a subsequent 37 days
• The PMR has been brought back to steady state operation as of 6 April 2016

REVIEW OF THE QUARTER

OPERATIONS

Anglo American Platinum remains committed to zero harm and saw an improvement in safety performance during the period. The Company had no fatalities in Q1 2016 and has extended its current fatal free period to 324 days to 31 March 2016. The Lost time Injury Frequency Rate (“LTIFR”) per 200,000 hours at managed operations for the quarter was 0.73, a 33% improvement compared to the LTIFR of 1.09 in Q1 2015.

Total platinum production increased by 4% to 567,000 ounces. Platinum production from own mines and tailings retreatment increased by 7% to 381,000 ounces from 357,000 ounces due to higher production from Amandelbult, Mogalakwena and Unki, partially offset by lower production at Rustenburg.

Amandelbult increased by 33% to 111,000 ounces due to improved mining efficiencies and increased concentrator recoveries. Production at Mogalakwena increased 7% to 109,000 ounces due to higher grade and improved concentrator throughput. Production from Unki increased 14% to 19,000 ounces due to improved running time of the concentrators and increased head grade. In total, production from retained own mine operations increased 18% compared to the prior period.

Union mine had a solid performance during the quarter, maintaining production at 34,000 ounces. Rustenburg (including Western Limb Tailings Retreatment) production decreased by 15,000 ounces to 106,000 ounces due to mining through difficult ground areas and lower grade.

Production from Joint Venture Operations and Associates (mined and purchased), excluding third party purchase of concentrate, increased by 6% to 185,000 ounces due to improved production at Kroondal, BRPM and Mototolo.

Third party purchases were down 10,000 ounces due to termination of contracts in 2015.

Refined platinum production for the quarter was materially impacted by a planned stock take at the PMR and a Section 54 stoppage which closed the PMR for 12 days. Due to the crash stop’ nature of the Section 54 stoppage, there was a period of process instability at the PMR, which impacted production for a subsequent 37 days until 6 April 2016. As a result refined platinum production decreased by 52% to 261,000 ounces with similar decreases for palladium and rhodium during the period.

The PMR has since been brought back to steady state operation and it is anticipated that these shortfalls in refined production in Q1 2016 will be caught up in Q2 and Q3 2016. This will have a short term impact on the financial position of the Company at the end of H1 2016.

Full year guidance of 2.3 - 2.4 million ounces of produced production remains unchanged. Unit cost guidance remains between R19,250 – R19,750 per produced platinum ounce (metal in concentrate).

Download the Anglo American Platinum Limited Production Report for the first quarter ended 31 March 2016