News Bureau

Solid performance by Northam Platinum

The Northam group’s PGM production from own operations of 436 960oz was 15.7% higher year on year, following a solid operating performance at Zondereinde, and the Booysendal UG2 North mine reaching steady-state production in the first half of the financial year.

Financial results were negatively impacted by lower ZAR basket prices. Northam Platinum has released its preliminary annual results for the year ended 30 June 2016. The statement which follows captures the key features for the year, and an overview of the group’s operational performance.

In line with the group strategy to diversify into shallow mechanisable operations the board approved the development of the initial phase of the Booysendal South project in June 2016. This project includes the development of two UG2 mining modules and a Merensky mining module which will contribute an additional 240K oz per annum of PGMs to the group’s production profile.

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