Further to the announcement of 20 September 2005, Anglo Platinum advises that;
The original timetable for repair to the smelter, including the installation of the modified split waffle cooler system, remains as planned and normal smelting operations at Polokwane are expected to resume in mid-December 2005.
Forecast refined platinum production for 2005 will reduce from 2,6 million to approximately 2,45 million ounces. Forecast refined production of palladium is expected to be 1,33 million ounces and rhodium 0,32 million ounces. These forecasts include limited toll smelting to be undertaken by Northam Platinum Limited which will produce approximately 8 000 ounces of platinum and 3 000 ounces of palladium.
Anglo Platinum will continue to sell metal in terms of existing contractual commitments in 2005. Refined platinum and palladium stocks at year end will be lower than normal. Total sales volumes in 2005 are estimated at 2,51 million ounces of Platinum and 1,36 million ounces of palladium.
Assuming the rand/US dollar exchange rate and metal prices remain at current levels, the expected net impact in 2005 of lower metal sales offset by the increase in inventory is to reduce headline earnings by some R250 million and increase net debt by some R640 million.
For further information, please contact
Trevor Raymond
(011) 373-6462
082 654 8467