Anglo American Platinum just can’t seem to do anything wrong at the moment, and it seems everyone is a winner – the company’s employees, shareholders, communities and National Treasury.
The key drivers here were old-fashioned ones for a mining house – increased production and higher prices – but Amplats has refashioned itself over the years with a pivot to mechanisation to be in a position for such trends to flow straight to its bottom line. Shareholders are clearly the big winners here, with R80-billion in cash gushing their way – a total dividend for the year of R300 per share.
Amplats’ employees have also fared well, it seems, not least in terms of job security – a company that is making money hand over fist is unlikely to embark on lay-offs. The company paid R14-billion in wages and salaries last year. Looking ahead, Amplats sees PGM demand rising on pent-up automotive demand, which has been constrained by supply bottlenecks.
Hope the miners are given decent wage increases as well.
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