ANGPY Anglo American Platinum Ltd (PK)

By Jaime Llinares Taboada

Anglo American Platinum Ltd. on Thursday reported 2020 production and sales slightly ahead of expectations, but said operations are at 90% of normal capacity due to coronavirus infections among its employees.

The South African miner, which is majority-owned by Anglo American PLC, reported refined platinum group metals production--which includes platinum, palladium, rhodium, iridium, ruthenium and gold--of 2.71 million ounces for 2020. This is down 42% from 2019, but above the guidance range of 2.6 million-2.7 million ounces.

Similarly, sales plunged 38% to 2.89 million ounces but beat the 2.8 million forecast.

Chief Executive Natascha Viljoen said the company is operating at 90% of its normal production capacity because the second wave of Covid-19 has led to an increase in employee infections. However she also said the wave is past its peak and that active cases are decreasing.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

January 28, 2021 02:51 ET (07:51 GMT)

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