Anglo Platinum said on Monday it had experienced "very challenging" market conditions during 2009.

The company was releasing its results for the year ended December 31, 2009.

It said its headline earnings decreased by 95 percent to R710-million with the main cause the lower US dollar prices realised on metals sold.

While the global financial crisis that started during the last quarter of 2008 had curbed demand for platinum group metals and caused prices to decline significantly, the second half of 2009 had brought "early signs of economic recovery".

There had been a consequential increase in demand and recovery in prices with platinum increasing by 60 percent from $922 per ounce at the beginning of 2009 to $1475 at December 31 2009, the company said.