Platinum mining company Anglo American Platinum (Amplats) on Tuesday advised its shareholders to expect a sharp fall in earnings of between 67% and 45% for the six months to June 30. The Johannesburg Stock Exchange-listed platinum major advised that headline earnings for the first half of the year are likely to decrease to between R550-million and R875-million, compared with last year’s restated R1.65-billion, and headline earnings a share to between 210 c and 335 c a share compared with last year’s restated 629 c a share. The expected earnings decreases are primarily the result of attributable post-tax impairments totalling R2.2-billion, as well as strengthened local currency and a smelter problem, which lowered refined production.
