Anglo American Platinum’s Refined PGM Output Rises 22% in Q3; Guidance Raised for 2024

Anglo American Platinum reported a 22% increase in its refined production of platinum group metals (PGMs) in the third quarter of 2024, reaching 1.1 million ounces. This growth in refined output comes despite a drop in metal-in-concentrate production, which was down 10% to 922,300 ounces for the same period.

The company has confirmed its 2024 guidance for total metal-in-concentrate output and has also raised its forecast for refined PGM production to a range of 3.7 million to 3.9 million ounces, up from the previous estimate of 3.3 million to 3.7 million ounces.

Anglo American Platinum remains on track to stay within its 2024 cost guidance range, despite the fluctuations in production metrics.