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Anglo American Platinum expects HY earnings decline due to lower PGM price, lower sales and higher costs

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Anglo American Platinum expects HY earnings decline due to lower PGM price, lower sales and higher costs AngloAmericanPlatinum

- Anglo American Platinum , a member of the Anglo American Group, reported today that its earnings for the six months ended 30 June 2023 have decreased largely due to a decline in revenue as a result of the lower average PGM basket price relative to the corresponding six months in 2022.

Furthermore, according to a press release, sales volumes from the company’s own production were 12% lower compared to H1 2022. Anglo American Platinum added that continued inflationary pressure and exchange rate volatility have also led to higher mining and processing costs.

 

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