Northam’s interim output up nearly 20%
Platinum group metals miner Northam Platinum has reported a 10.6% year-on-year increase in total equivalent refined metal production from its own operations and a 19.9% year-on-year increase in total production, including bought material, for the six-month period ended December 31, 2023.
On a platinum, palladium, rhodium and gold (4E) basis, equivalent refined metal production from own operations at Zondereinde for the six-month period was 160 188 oz, a 0.4% decrease on the 160 806 oz produced in the six months ended December 2022.
Total equivalent refined metal production from Northam’s own operations was 434 977 oz for the six months under review – a 10.6% increase on the 393 309 oz produced in the prior comparable period.
Equivalent refined metal bought from third parties was 83 107 oz – 114.5% increase from the 38 739 oz bought from third parties in the prior comparable period.
Total production, including bought material, was 518 084 oz – a 19.9% increase from the total production of 432 048 oz in the prior comparable period.
Concentrate production from own operations at Booysendal was 250 004 oz – a 14.9% year-on-year increase.
Concentrate production from own operations at Eland was 32 574 oz – a 51.8% year-on-year increase.
Northam says that production growth has been achieved owing to the continued focused execution of the group’s growth strategy.
The group has targeted increased mechanisation to grow its production, while lowering operational risk and improving its relative position on the industry cost curve.
“This protects our operations against subdued or volatile commodity markets,” Northam avers.
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