Anglo American Regulatory News (AAL)

Anglo American Platinum update on ACP Phase B repair

Anglo American plc notes the announcement by Anglo American Platinum Limited released today to the Johannesburg stock exchange. The text of the announcement is copied below:

Anglo American Platinum announced on 3 June 2020 that a water leak had been detected in the high-pressure cooling section of the Anglo Converter Plant (ACP) Phase B unit. All employees were safely evacuated as a precaution. The Company took the decision to temporarily close the ACP Phase B unit to secure a safe operating environment, protect employees and protect the integrity of the plant.

The detailed technical investigation into the cause of the water leak shows localised damage to a single cooler tube that is now being replaced and confirms that this leak is unconnected to the repair work recently completed on the ACP Phase B unit. Other maintenance is being carried out and additional controls put in place whilst the ACP Phase B unit is off-line in order to provide greater operational stability. The repair work is expected to be completed next week, and recommissioning will then start once a detailed risk-based assurance process has confirmed it is safe to do so. 

A prudent approach will be taken to safely ramp up the ACP Phase B unit. Increased monitoring will likely result in intermittent stoppages to inspect the plant until the repairs to the ACP Phase A unit are completed. The repairs to the ACP Phase A unit are progressing well and are now expected to complete towards the end of 2020 due to the successful accelerated procurement of key long-lead time items.

Anglo American Platinum will continue to receive concentrate from third parties and joint ventures under the purchase of concentrate and toll agreements and will continue to deliver metal to customers.

The stoppage of the ACP Phase B for repairs of this water leak is not expected to have any impact on full year refined production guidance, which remains at between 3.1 - 3.6 million PGM ounces.

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Notes to editors:

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals that enable a cleaner, greener, more sustainable world and that meet the fast growing consumer-driven demands of the world's developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world - safely, responsibly and sustainably.

As a responsible miner - of diamonds (through De Beers), copper, platinum group metals, iron ore, steelmaking and thermal coal, and nickel - we are the custodians of what are precious natural resources. We work together with our business partners and diverse stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate, and for society as a whole. Anglo American is re-imagining mining to improve people's lives.

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