Amplats Posts 3% Refined Platinum Output Hike in 3Q

Anglo American Platinum Ltd., the world's biggest platinum producer, said Thursday its third-quarter attributable refined platinum production rose three percent on a year-over-year basis.

Amplats, as the company is known, also said its production of 668,800 ounces of refined platinum was a 13 percent increase over the previous quarter.

An increase in pipeline stocks resulted in total refined platinum production for the third-quarter falling by seven percent on a year-over-year basis.

The company, unit of Anglo American Plc, remains on track to achieve its refined production and sales volume target of 2.6 million platinum ounces.

Reaching its goal of 1.82 million ounces of refined platinum production in 2011 will require Amplats to produce 780,000 ounces in the fourth quarter.