Amplats expects earnings to rise by up to 151%, joins Bloomberg index

Mining company Anglo American Platinum said on Tuesday it expected headline earnings and headline earnings per share for the 12 months ended last month to increase by between 131 percent and 151 percent respectively, compared to the previous year.

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JOHANNESBURG – Mining company Anglo American Platinum said on Tuesday it expected headline earnings and headline earnings per share for the 12 months ended last month to increase by between 131 percent and 151 percent respectively, compared to the previous year.

Amplats, which is due to release its results on February 17, said the expected rise was primarily driven by a 38 percent increase in the rand basket price and a continued steady operational performance.

This, it said, was in spite of a loss in production of 38,000 platinum group metals (PGM) ounces and deferred refined production of 89,000 PGM ounces to be refined in 2020, due to power outages implemented by state power utility Eskom.

In a separate statement, the company said it had been included in the 2020 Bloomberg Gender-Equality Index for the first time, reflecting the significant progress made on creating an inclusive and diverse workplace.

In total, 325 companies headquartered in 42 countries, including only eight South African companies, were included in the index, seen as a valuable tool for investors considering environmental, social and governance matters in deciding where to put their money.

Source: iol.co.za