Anglo American Platinum, Diamond Production Plummets

Johannesburg, (UrduPoint / Pakistan Point News - 16th Jul, 2020 ) :Mining giant Anglo American on Thursday said platinum output fell by 41 percent and diamond production slumped by 54% in the second quarter of 2020 due to coronavirus shutdowns across southern Africa.

The company is one of the world's largest platinum producers and owns 85 percent of global diamond giant De Beers.

"Platinum and palladium production decreased by 41% to 307,400 ounces and 34% to 228,400 ounces, respectively," Anglo American said in a statement.

"Rough diamond production decreased by 54% to 3.5 million carats, primarily due to the COVID-19 lockdowns." Anti-coronavirus shutdowns across southern Africa stalled the majority of Anglo American mining operations through most of April.

While mining has gradually resumed, the company said demand for rough diamonds had fallen "due to the pandemic".

Lockdowns have also caused a 33 percent drop in platinum concentrate purchases.