Load shedding costs Amplats R742m
JOHANNESBURG – Anglo American Platinum (Amplats) lost 38000 ounces of platinum group metals (PGM) production last year as a result of load shedding.
Amplats said yesterday that the losses amounted to R742.3 million in revenue as a result of the power cuts that ripped through the economy in the latter part of 2019.
The group said the lost production would never be recovered.
Amplats declined 3.76 percent on the JSE yesterday to close at R1200.00.
Amplats, an Anglo American plc subsidiary, said its mines had lost 18000 PGM ounces of production due to power outages in the first half of the year, forcing operations to shut down, and a further 16800 in the second half, while joint ventures lost 3 200 ounces.
Source: iol.co.za
