OVERVIEW

• Commitment to zero harm – no fatalities in the period
• Group platinum production (expressed as metal in concentrate)(1) was largely constant year-on-year at 598,000 ounces with operational improvements at own operations, offset by a reduction in purchase of concentrate ounces from third parties
• Amandelbult production increased by 13% due to improved mining efficiencies, increased concentrator recoveries and the start-up of opencast mining
• Refined platinum production increased by 30% to 745,000 ounces, following a return to normal production after the industrial action, as well as processing pipeline inventory

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. The Lost time Injury Frequency Rate (“LTIFR”) per 200,000 hours at managed operations for the quarter was 0.95, the same compared to the normalised LTIFR (adjusting for the strike) for 2014.

Total platinum production was largely constant at 598,000 ounces compared to 603,000 ounces in Q4 2014, with operational improvements at own and joint venture operations, offset by a reduction in purchase of concentrate ounces from third parties. Seasonally, production in the fourth quarter is lower in the third quarter due to less production shifts than the third quarter.

Platinum production from own mines and tailings retreatment increased to 398,000 ounces from 389,000 ounces due to higher production from Amandelbult and Unki, partially offset by lower production at Union and Rustenburg.

Amandelbult production increased from 106,000 to 121,000 ounces due to improved mining efficiencies, increased concentrator recoveries and the start-up of opencast mining. Production from Unki increased to 19,000 from 15,000 ounces due to improved mining efficiencies and plant performance, whilst Mogalakwena production was largely flat at 98,000 ounces.

Rustenburg (including Western Limb Tailings Retreatment) platinum production decreased from 122,000 ounces to 118,000 ounces due to lower production from lower achieved grade and safety related stoppages. Production from Union decreased from 43,000 to 38,000 ounces, mainly due to the closure of the decline section in Q4 2014.

Independently managed production (mined and purchased) excluding third party purchases of concentrate, was broadly unchanged at 199,000 ounces.

Refined platinum production increased by 30% to 745,000 ounces, following a return to normal production after the industrial action and subsequent ramp up in Q3 2014 and processed pipeline inventory. Refined palladium and rhodium increased for similar reasons. The mix of metals returned to normal compositions as all mines produced at normal rates.

Base metal tonnes increased 14% due to Q4 2014 being impacted by the ramp-up to normal production following the strike, as well as an improved and stable operational performance of the Base Metal Refinery. There was no third party tolling in Q4 2015 as all the stockpiles of Nickel and Copper Matte accumulated during the expansion and subsequent ramp-up of the BMR have been depleted.

Download the Anglo American Platinum Limited Production Report for the fourth quarter ended 31 December 2015