By David McKay
Miningmx
If the results presented by Anglo American Platinum (Amplats) on July 21 sounded surprisingly upbeat, it’s partly because the group’s strategic deliverable of selling its non-core shafts and joint ventures for good value requires a certain air of unhurried nonchalance.
It certainly appeared as if Amplats CEO, Chris Griffith, wanted to project a company at peace with its lot; certainly not a company in an urgent need to sell assets notwithstanding its 1% return on capital employed (ROCE), a far cry from the 15% required by its parent, Anglo American.
Instead, the message made for positive reading. Amplats would produce only 100,000 ounces less platinum for its 2014 financial year than first guided notwithstanding the five-and-a-half month strike waged by the Association of Mineworkers & Construction Union (AMCU).