{"id":12030,"date":"2012-07-02T12:10:47","date_gmt":"2012-07-02T10:10:47","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/update-1-amplats-warns-on-lower-first-half-earnings\/"},"modified":"2012-07-02T12:10:47","modified_gmt":"2012-07-02T10:10:47","slug":"update-1-amplats-warns-on-lower-first-half-earnings","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-amplats-warns-on-lower-first-half-earnings\/","title":{"rendered":"UPDATE 1-Amplats warns on lower first-half earnings"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Anglo American Platinum hit by lower sales, prices<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Sees earnings fall at more than 20 per cent<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 2<\/span> (Reuters) &#8211; Anglo American Platinum<br \/>\n, the world&#8217;s top platinum producer, warned on Monday<br \/>\nits first-half earnings would fall more than 20 percent, hit by<br \/>\nlower sales and falling prices.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s platinum sector is battling the impact of<br \/>\nweak demand, soaring costs and a government safety drive that<br \/>\nhas cut production as operations are suspended for safety<br \/>\nviolations.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;In view of volatility in exchange rates and metal prices,<br \/>\nAnglo American Platinum cannot, with reasonable certainty,<br \/>\nquantify the extent of the decrease in expected earnings other<br \/>\nthan that the decrease is expected to be more than 20 percent,&#8221;<br \/>\nthe miner said.<\/p>\n<p><span><\/span><\/p>\n<p>Amplats, a unit of global miner Anglo American, said<br \/>\na further trading statement would be issued to provide earnings<br \/>\nforecast ranges for earnings per share.<\/p>\n<p><span><\/span><\/p>\n<p>Shares in Amplats fell more than 2.5 percent on the news of<br \/>\nweaker profits, while other platinum producers including Impala<br \/>\nPlatinum were also dragged lower.<\/p>\n<p><span><\/span><\/p>\n<p>Anglo American is undertaking an operational review of<br \/>\nAmplats, which it is expected to conclude later this year.<br \/>\nAnalysts expect the review to outline the planned closure of<br \/>\nsome higher cost deep shafts, signal some potential sales or<br \/>\nexits from some joint ventures with rivals, and focus its<br \/>\nspending.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Anglo American Platinum hit by lower sales, prices * Sees earnings fall at more than 20 per cent JOHANNESBURG, July 2 (Reuters) &#8211; Anglo American Platinum , the world&#8217;s top platinum producer, warned on Monday its first-half earnings would fall more than 20 percent, hit by lower sales and falling prices. South Africa&#8217;s platinum [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12030","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12030"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12030\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}