Anglo Platinum Says Profit Fell by Up to 52% on Lower Prices

Anglo American Platinum Ltd. said profit last year fell by as much as 52% after the price of palladium and rhodium slumped.

Profit in 2024 likely declined to between 6.3 billion rand ($339 million) and 7.6 billion rand, from 13 billion rand the previous year, the Johannesburg-based company said Thursday in a statement. Earnings were also hit by 1.9 billion rand of asset writedowns, mainly relating to the coarse particle recovery technology at its Mogalakwena mine.