Northam Platinum revenues up 13 percent

“Whilst the outlook for PGMs in the short to medium term is likely to remain subdued, the economic and social factors affecting the country have resulted in a precarious economic situation. Higher costs, mainly from labour and power inputs have eroded operating margins,” the group said in a statement.

Northam survived a tough year for the platinum mining industry by securing its black economic empowerment status, raising R4,6 billion in fresh capital, completing the acquisition of Everest mine and continuing to ramp up Booysendal. It also concluded a three year wage deal in preparation for when the tide of commodity prices eventually turns.

(File photo: Gallo Images)