1141 GMT - Anglo American Platinum looks set to report a fourth-quarter decline in production, in line with the annual guidance, Citi analysts write in a research note, ahead of the Johannesburg-based platinum miner's 4Q report on Thursday. Investors should look out for risks of inventory write-down given that the current inventory levels are valued at around ZAR30,000 per ounce versus spot prices of around ZAR23,000 an ounce, Citi says. Additionally, details on how the company will achieve its lower operating-cost guidance for 2024 will also be keenly watched, they add. Shares are up 0.9% at ZAR820.20. (christian.moess@wsj.com)
(END) Dow Jones Newswires
February 02, 2024 06:43 ET (11:43 GMT)
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