Anglo American Platinum expects demand for rhodium and palladium to continue growing through 2020 due to tighter emissions rules causing an increased demand for the catalytically active metal. Image: Anglo American Platinum

South African platinum giant Anglo American Platinum has announced that its net profit for 2019 more than doubled over 2018 on the back of higher platinum group metals (PGMs) prices, as the company recorded its first-ever fatality-free year. The annual results were published the same day CEO Chris Griffith announced he will step down as CEO and executive director in April 2020.

Anglo American Platinum’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped from R14.5bn ($973.5m) in 2018 to R30bn ($2.014bn) in 2019. Production remained stable over the previous year, with total production of PGMs increasing by 1%. Prices for PGMs rose in 2019, with a 27% increase in platinum, a 48% increase in palladium, and a 73% increase in the rhodium price driving positive results for the company.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Anglo American Platinum expects demand for rhodium and palladium to continue growing through 2020 due to tighter emissions rules causing an increased demand for the catalytically active metal.

Following a push for improved health and safety operations after two employee deaths in 2018, Anglo American Platinum recorded its first-ever fatality-free year.

In a statement, Griffith said: “For the first time in Anglo American Platinum’s history, we have had no workplace fatalities at our managed operations in the year. Our intense focus on eliminating fatalities is yielding positive results and, while we are proud of this milestone, we also need to eliminate injuries and extend our focus to our non-AAP managed joint venture operations.”

Griffith’s departure from the company comes after more than seven years as its CEO. The company said in a statement it was Griffith’s decision to pursue other career opportunities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.