Platinum group metals (PGMs) producer Northam Platinum Holdings has successfully placed R5.7 billion ($318 million) in new domestic medium-term notes as part of its R15-billion ($836 million) funding programme.
The issuance, completed on June 13, includes three tranches with staggered maturities—R2.6 billion ($145 million) in 2028, R600 million ($33.4 million) in 2029, and R2.5 billion ($140 million) in 2030—aligning with the company’s growth strategy and capital project timelines.
The structured maturity profile enhances financial flexibility, safeguarding liquidity as Northam advances its expansion plans amid fluctuating metal prices.
With this placement, the total value of notes issued under the programme now stands at R12.2 billion ($680 million).
Company chief executive Paul Dunne highlighted investor confidence in Northam’s strategy, stating that the funding will support accelerated capital projects while reinforcing the company’s sustainable production growth in a tightening PGM market.
“This placement will provide Northam with sufficient flexibility and liquidity to pursue an accelerated capital programme in the short to medium term in the execution of our strategy to safely, efficiently and sustainably increase our PGM production against a depleting primary supply from the sector,” he said.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
