Headline earnings per share, the main profit used in South Africa, for the six months to June 30 fell to 26.27 rand per share compared with 28.15 rand a year earlier. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 6% to 13.1 billion rand, driven by sharply higher metals prices. Amplats said it expects output to improve in the second half despite a 25% decline in year-on-year in platinum group metals (PGM) production to 1.6 million ounces due to shutdowns in South Africa and Zimbabwe. “We expect to see a stronger production performance in H2 2020, but caution that significant headwinds still exist,” said Amplats CEO Natascha Viljoen. Mining companies in South Africa are anxious about managing COVID-19 and preventing outbreaks at mine sites where workers are in close quarters and confined spaces.

Source: The North Africa Journal July 27, 2020 12:11 UTC