By Jaime Llinares Taboada

 

Anglo American Platinum Ltd. on Thursday reported higher production and sales for the first quarter of the year, and reaffirmed full-year expectations.

The South Africa-based precious-metals miner, which is majority-owned by Anglo American PLC, produced 1.02 million ounces of platinum group metals in the first quarter. This includes platinum, palladium, rhodium, iridium, ruthenium and gold. The figure represents a 7% increase from the same period of 2020, but a 5% decline from the fourth quarter.

Sales volumes from production and trading jumped 45% year-on-year to 1.35 million ounces as production was supplemented by the drawdown of minor metals from refined inventory in support of increased demand.

The company maintained full-year production guidance at 4.2 million ounces to 4.6 million ounces.

 

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

 

(END) Dow Jones Newswires

April 22, 2021 02:51 ET (06:51 GMT)

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