By Adriano Marchese

Anglo American Platinum Ltd. (AMS.JO) said Tuesday that it expects headline earnings for 2019 to have more than doubled, benefiting from the South African rand basket price and steady operational performance.

The mining company, which is majority owned by diversified miner Anglo American PLC (AAL.LN), said headline earnings are expected to be between 17.55 billion and 19.06 billion South African rand ($1.21 billion-$1.31 billion) for the year. This compares with ZAR7.59 billion for 2018.

Over the year, the company said headline earnings were driven by a 38% increase in the rand basket price as well as the continued steady operational performance, despite a loss in production and deferred refined production due to Eskom power outages.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 28, 2020 02:44 ET (07:44 GMT)

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