{"id":7922,"date":"2012-02-13T14:02:23","date_gmt":"2012-02-13T12:02:23","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-amplats-earnings-down-sees-flat-2012-output\/"},"modified":"2012-02-13T14:02:23","modified_gmt":"2012-02-13T12:02:23","slug":"update-1-amplats-earnings-down-sees-flat-2012-output","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-amplats-earnings-down-sees-flat-2012-output\/","title":{"rendered":"UPDATE 1-Amplats earnings down, sees flat 2012 output"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Safety stops now involve entire shafts, mines<\/span><\/p>\n

<\/span><\/p>\n

* Headline earnings down almost 30 pct as expected<\/p>\n

(Adds details, background)<\/p>\n

<\/span><\/p>\n

JOHANNESBURG, FEB 13 – Anglo American Platinum
\n, the world’s largest producer of the precious metal,
\nsaid on Monday that output would likely be flat in 2012 after it
\nfell short of its target last year due to a spike in safety
\nstops.<\/p>\n

<\/span><\/p>\n

The group said as it announced 2011 earnings that it planned
\nto refine and sell between 2.5 million and 2.6 million ounces of
\nplatinum in 2012. Amplats, a unit of Anglo American,
\naccounts for close to 40 percent of global platinum supply.<\/p>\n

<\/span><\/p>\n

Last year it initially targeted 2.7 million ounces but sold
\n2.6 million and produced a bit less that that, as a government
\ndrive to stem the death toll in the country’s mines forced it to
\nhalt production 81 times for safety reasons, over double the
\n2010 figure.<\/p>\n

<\/span><\/p>\n

“While we agree with the need for the regulator to stop
\noperations for non-compliance, the key issue is the nature of
\nstoppages and their effectiveness in addressing real risks,” the
\ncompany said in a statement.<\/p>\n

<\/span><\/p>\n

The miner said safety stops now involved entire shafts or
\nmines instead of just a single operation, adding its voice to a
\ngrowing chorus of complaints from the industry that the current
\npush on safety is overzealous.<\/p>\n

<\/span><\/p>\n

The death toll in South Africa’s mines has dropped
\ndramatically from the levels of the apartheid era, but on
\naverage over 10 workers are still losing their lives each month
\nunderground.<\/p>\n

<\/span><\/p>\n

Headlines earnings per share, the main guage of earnings in
\nSouth Africa, fell almost 30 percent as expected to 1,365 cents.<\/p>\n

<\/span><\/p>\n

The group had already flagged to the market that it expected
\nto earnings to fall by close to a third because of costs related
\nto a black economic empowerment deal.<\/p>\n

<\/span><\/p>\n

South African miners have government-mandated targets to be
\nat least 26 percent black-owned by 2014 as part of a policy to
\nrectify racial disparities left over from apartheid. \t<\/p>\n

(Reporting by Ed Stoddard and Agnieszka Flak, editing by David
\nDolan)<\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Safety stops now involve entire shafts, mines * Headline earnings down almost 30 pct as expected (Adds details, background) JOHANNESBURG, FEB 13 – Anglo American Platinum , the world’s largest producer of the precious metal, said on Monday that output would likely be flat in 2012 after it fell short of its target last […]<\/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-7922","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\/7922","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=7922"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7922\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}