By Anthony O. Goriainoff


Anglo American Platinum Ltd. said Friday that it expects to report that 2021 headline earnings and headline earnings per share rose, and that this was in part driven by a 22% increase in the rand basket price for platinum group metals.

The South African miner said it expects headline earnings for the year to be between 74.8 billion and 80.8 billion South African rand ($4.93 billion to $5.33 billion) compared with ZAR30.3 billion in 2020.

Headline earnings per share will increase to between 28,435 and 30,716 South African cents a share, compared with 11,554 cents in 2020, the company said.

Basic earnings are likely to be between ZAR74.7 billion and ZAR80.7 billion compared with ZAR30.3 billion in 2020. EPS is expected to be between 28,397 and 30,678 South African cents compared with 11,553 cents in 2020.

The company said the increase in earnings was also driven by an 82% increase in platinum group metals sales volumes.

"This was partially offset by an increase in purchase-of-concentrate costs, an increase in taxation and royalties [which flow from higher prices and sales volumes], as well as higher mining and processing costs due to higher input inflation and increased production," Anglo American Platinum said.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


(END) Dow Jones Newswires

02-11-22 0152ET