Based on the average price for PGMs in the three months, the unprocessed metal had a value of R1.59bn, most of which will be recouped in time
Amplats lost 18,000oz of PGMs at its concentrators to what Eskom terms load-shedding, or a reduction in power supply to avoid damaging its infrastructure. This metal was worth R311m.
Amplats said separately in a first-quarter production update that its refined production had fallen by 14% to 871,200oz of PGMs compared to the same three months a year earlier. Amplats said it had done maintenance work at its Waterval smelter, its converter plant, and base metals refinery, which contributed to the decline in refined output.“There has been a further build-up in work-in-progress inventory following the impact of power disruptions, and this should be refined in full by the end of 2019. However, if power disruptions persist, there could be an impact to the timing of refining the built-up work-in-progress inventory in full,” Amplats said on Wednesday.
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