Northam Platinum’s equivalent refined metal output from its operations increased by 3.7% to 451 213 ounce (oz) 4E in the first half of fiscal year 2025 (H1 F2025) compared to 434 977 oz 4E in H1 F2024.
This followed a strong performance from all mines, including a 15.1% increase in 4E metal in concentrate produced from own operations and surface sources at Eland to 37 488 oz 4E compared to 32 574 oz 4E in H1F2024.
It said strong production growth was recorded at Eland despite safety stoppages, while Zondereinde achieved marginal production improvements ahead of commissioning 3 shafts and despite an Eskom power outage in November 2024.
The miner said Booysendal production also improved due to productivity gains. These achievements continue to demonstrate the quality of the company’s operations and orebodies.
Meanwhile, group production of chrome concentrate rose by 7.5% to 716 622 tonnes from 666 692 tonnes in H1 F2024, as a result of improvements in UG2 tonnage throughput, feed grades and concentrator yields, and a notable increase at Eland.
“Mining tonnages and grades across the group are expected to improve further over the coming two years upon our growth and innovation projects reaching completion and achieving their planned targets,” it said.
“These improvements, together with an expected increase in mineable reserves, will provide important additional operational flexibility.”
The company said the current weakness in platinum group metal (PGM) prices continues to place significant pressure on revenue and profitability.
It said total revenue per equivalent refined 4E ounce sold decreased by 2.9% to R31 835/oz 4E compared to R32 785 per oz 4E in H1 F2024.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
