Natascha Viljoen, CEO of Anglo American Platinum, commented:

“Anglo American Platinum delivered a strong safety, operational and financial performance in H1 2021. Such a performance directly benefits our wide range of stakeholders and translates into a larger contribution in taxes, royalties, and buying goods and services, as examples, amounting to R39.2 billion in the first half of the year. This again demonstrates our transparent commitments to society and to being a good corporate citizen.

Our focus on the Elimination of Fatalities programme resulted in zero fatalities at our operations. With our Covid-19 protocols firmly embedded in the workplace, and with extensive physical and mental health support available to our teams and their families, we are doing everything possible to help keep our people safe. Anglo American Platinum is also supporting the Covid-19 vaccine programme led by government.

Our operations had a strong recovery in performance, despite managing through the ongoing impacts of Covid-19. Total PGM production increased by 28%. Refined production increased 128%, due to proven operational stability at the ACP which is performing ahead of plan.

The fundamentals for our PGMs and base metals remain robust, with a 29% increase in the Rand basket price. Coupled with strong sales volumes, we achieved EBITDA of R63.3 billion with contributions from all assets, realising the benefits of a portfolio with diversified metal prill splits. Overall, we achieved strong earnings, we have a strong balance sheet with net cash of R57.6 billion and increased our return on capital employed to 207%.

We have declared dividends in respect of H1 2021 consisting of both a base dividend and special dividend amounting to R46.4 billion, R175 per share or a 100% pay-out ratio of headline earnings. 

Anglo American Platinum is in a strong position and I’d like to thank all of our stakeholders who have contributed to our first half results. In light of the devastating impact of the virus and the recent unrest in parts of South Africa, we are adding an additional R400 million in funding to our WeCare programme so that we can continue doing what is right for our employees, our communities and for South Africa.

We are now looking forward to further delivering on our strategic priorities, to live up to our Purpose of ‘re-imagining mining to improve people’s lives’ and creating value for all our stakeholders."

Short form announcement

This short-form announcement is the responsibility of the directors. It is only a summary of the information contained in the full announcement and does not contain full or complete details. Any investment decision should be based on the full announcement accessible from Monday, 26 July 2021, via the JSE link and also available on the Company’s website at www.angloamericanplatinum.com.

These interim results have been reviewed by the Group’s auditors, PricewaterhouseCoopers Inc. who expressed an unmodified conclusion thereon.  

Copies of the full announcement may also be requested by contacting Anglo American Platinum Investor Relations by email at [email protected] and are available for inspection at the Company’s registered office at no charge, by appointment, subject to the prevailing restrictions. This short form announcement has not been audited or reviewed by the company’s auditors.

The JSE link is as follows:
https://senspdf.jse.co.za/documents/2021/jse/isse/ANANP/HY21result.pdf

Johannesburg
26 July 2021

Sponsor: Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities.