JOHANNESBURG (miningweekly.com) – The stronger rand is expected to have negatively impacted on Anglo American Platinum’s (Amplats’) headline earnings and headline earnings per share (HEPS) for the six months to June 30.
Headline earnings are expected to be at least R329-million, or 126c a share, lower than in the six months to June 30, 2016.
Restated headline earnings and HEPS for the comparative period were R1.65-billion and 629c respectively.
The miner further pointed out that its basic earnings and basic earnings per share (EPS) will also be at least R312-million, or 118c apiece, lower than the comparative period.
Restated basic earnings and EPS for the comparative period were R1.54-billion and 589c respectively.
However, the company expected its results to even out, as the build-up of work-in-progress material of 65 000 oz, as a result of the rebuild of Waterval Furnace Number 1 in the fourth quarter of 2016, followed by the planned rebuild of Waterval Furnace Number 2 in the first quarter of this year, will result in more material being refined in the second half.
Waterval Furnace Number 2 is already operating at steady state.