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Updated trading statement for the six months ended 30 June 2015

13 July, 2015

Anglo American Platinum Limited will release results for the six months ended 30 June 2015 ("the period") on the Johannesburg Stock Exchange News Service (“SENS”) on 20 July 2015. 

Shareholders are referred to the Company’s trading statement released on SENS on 15 June 2015 in which they were advised that headline earnings and headline earnings per share (“HEPS”) for the period were expected to be at least 20% (R31 million or 12 cents per share) higher than for the comparative reporting period for the six months ended 30 June 2014 (“comparative period”) and that basic earnings and basic earnings per share (“EPS”) for the period were also expected to be at least 20% (R86 million or 33 cents per share) higher than for the comparative period.

Shareholders are now advised that headline earnings and HEPS for the period are likely to increase to be between R2,450 million and R2,480 million (or between 1,461% and 1,480% up on prior year) and 940 cents and 950 cents per share (or between 1,467% and 1,483% up on prior year) respectively. This compares to headline earnings and HEPS of R157 million and 60 cents per share respectively reported for the comparative period.

Basic earnings and EPS for the period are likely to increase to be between R2,400 million and R2,480 million (or between 459% and 478% up on prior year) and 915 cents and 945 cents per share (or between 458% and 476% up on prior year) respectively. This compares to basic earnings and EPS of R429 million and 164 cents per share respectively reported for the comparative period.

The expected increase in earnings and headline earnings is primarily due to the Company increasing its estimate of the quantity of inventory based on the outcome of the physical count of in-process metals, which resulted in an after tax-tax gain of R1,566 million (or 600 cents per share). In addition, there has been an improvement in operational performance following the protected industrial action in the comparative period, an increase in sales volumes and weakening of the South African Rand versus the US dollar, which was partially offset by sharply weaker pricing.

The forecast financial information on which this trading statement is based has not been reviewed by or reported on by the Company’s external auditors. 

 

Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited) 

For further information, please contact:

Investors:                                                                                                                                              Media:

Emma Chapman                                                                                                                                    Mpumi Sithole                                                        

Tel: +27 (0)11 373 6239                                                                                                                        Tel: +27 (0)11 373 6246                                                

[email protected]                                                                                                   [email protected]     

                                                  

Notes to editors: Anglo American Platinum Limited is a member of the Anglo American Plc Group and is the world's leading primary producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe and is actively exploring in Brazil. Anglo American Platinum has a number of joint ventures with several historically disadvantaged South African consortia as part of its commitment to the transformation of the mining industry. Anglo American Platinum is committed to the highest standards of safety and continues to make meaningful and sustainable difference in the development of the communities around its operations. www.angloamericanplatinum.com   Anglo American is a global and diversified mining business that provides the raw materials essential for economic development and modern life. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products – from bulk commodities and base metals to precious metals and diamonds (through De Beers) – to our customers around the world. Our diversified portfolio of products spans the economic development cycle and, as a responsible miner, we are the custodians of precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate – creating sustainable value and making a real difference. Our mining operations, growth projects and exploration and marketing activities extend across southern Africa, South America, Australia, North America, Asia and Europe.