Northam Platinum sold approximately 1.3 million tonnes of chrome in the past year, which contributed 12.5%, or R3.8 billion, to the company's revenue.
The miner said its chrome production rose by 24% as a result of increased upper group two (UG2) tonnages handled and enhanced chrome yields at all facilities.
Northam's resource base is well-capitalised and UG2-dominant, and it is situated in key sections of the Bushveld Complex in South Africa.
The company's Zondereinde mine, which is predominantly a PGMs mine, is anticipated to generate 450,000 t of chrome concentrate in the fiscal year 2025.
The group's chrome sales are anticipated to increase to approximately 1.4 million tonnes.
The Eland mine, a shallow hybrid UG2 asset situated in the southern-eastern region of the western limb of the Bushveld Complex, 12 km east of Brits, in South Africa's North West province, is anticipated to become a key chrome producer shortly.
While presenting a slide depicting a striking drive into the UG2 of the Eland mine, Northam chief executive Paul Dunne cautioned analysts not to underestimate Eland.
The mine has a 1.6-m-wide orebody that contains approximately one ounce of PGM per square metre mined and two tonnes of chrome per square metre mined.
“Based on current pricing, we believe that as soon as Eland reaches an excess of 100,000 oz, it will start breaking even,” Northam chief financial officer Alet Coetzee calculated.
Guidance for next year shows it won’t be far off 100,000 oz.
The ramp-up at Eland has commenced in earnest, and the company's production growth is increasing margins.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
