Anglo American Platinum (OTCPK:ANGPY) stated Monday it expects 2022 annual revenue will plunge by as a lot as 52%, as a result of a decline in gross sales of platinum group metals after the delayed rebuilding of a smelter, in addition to larger mining and processing prices.

Amplats (OTCPK:ANGPY) cited a two-month delay within the rebuild of its Polokwane smelter in South Africa as a result of supply of sub-standard supplies.

The South African firm, which is majority owned by Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY), stated full-year platinum group gross sales volumes fell 26% following a 25% drop in refined metals manufacturing to three.8M oz from a document 5.14M oz in 2021, leading to headline earnings and fundamental earnings of 38B-53B South Africa rand ($2.12B-$2.96B) in contrast with 79B rand in 2021.

FY 2022 headline EPS are seen lowering to between 14,431 South African cents/share and 20,128 cents/share, from 30,042 cents in 2021.

Anglo Platinum (OTCPK:ANGPY) “has a stronghold over the worldwide platinum provide, and most systemic challenges to its operations will in all probability be offset by larger PGM costs,” Pearl Grey Fairness and Analysis writes in an evaluation posted just lately on In search of Alpha.