JSE-listed Northam Platinum produced 809 775 ounces of 4E (platinum, palladium, rhodium and gold) from its own operations as of 30 June 2023 financial year (F2023), a 13% jump compared to 716 488 oz of 4E, a year earlier.
It also increased 19.5% in total production (including purchased material) to 930 182 oz of 4E from the previous year’s 778 449 oz of 4E.
It said significant production growth was achieved during F2023 as a result of the focused execution of the group’s growth strategy, which continues to deliver against set targets.
Northam said challenges remain, particularly in respect of high mining inflation and the potential for further and possibly more severe Eskom load curtailment events.
“However, our growth and operational diversification programmes remain on track and continue to demonstrate the value of our counter-cyclical investments and execution capacity across the group, as well as our flexibility in dealing with these challenges,” it said.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
