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| Chairman's statement |
Good progress in building the teams
During 2008, Anglo Platinum made good progress in building the teams and systems it needs to address operational challenges and the challenges presented by the current global economic crisis. In taking action, we have addressed shortterm issues while remaining mindful of the long-term strategy. Highlights during this turbulent year included a marked improvement in employee safety, record profits, the appointment of our new CEO and the implementation of a unique employee shareownership scheme. |
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| Explore chairman Fred Phaswana's statement > |
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| Chief executive officer’s review |
| Adapting to the current uncertain economic conditions |
 I am pleased that the management team, with the support of the Board, is adapting to the current uncertain economic conditions and building a sound base to enhance medium and longterm value in the unique platinum business sector. |
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| Financial review |
| Record headline earnings were achieved in 2008. |
 Market conditions and commodity prices deteriorated materially in the latter part of 2008.
In response, Anglo Platinum has initiated a range of cost-management initiatives, including a reduction in capital spend and in the number of contract employees. |
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| Market review |
| A balanced platinum market |
 Anglo Platinum expects a balanced platinum market in 2009. The platinum price, in the Company’s view, suffered a downside overcorrection in the second half of 2008 and the metal is likely to trade at above $1,000 per ounce in 2009. |
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| Operations review |
| Focusing on safe profitable platinum |
 Anglo Platinum’s safety strategy has three core dimensions, namely: systems, behaviour and engineering out-risk.
Total cash on-mine costs for mining and retreatment operations increased by 26%, or R4.1 billion to R20.2 billion. |
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| Sustainable development
report 2008 |
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- Highlights
- Key features
| • Noticeable improvement in safety performance |
| • Record headline earnings, up 8% to R13.3 billion |
| • Produced 2.39 million refined platinum ounces |
| • Rand basket price per platinum ounce up 23% to R22,348 |
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| All the highlights > |
| 2008/2007 |
% change |
Refined Production
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| Platinum |
(3.5) |
| Operational |
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| Cash on mine costs |
22.4 |
| Financial |
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| Net sales revenue |
8.9 |
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| All the features > |
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