Higher rand prices for its basket of PGMs and rising volumes from its growth projects helped Northam Platinum to generate R695.8 million of free cash in the six months to December. These operations is still treating small batches of salvaged catalytic converters at the Zondereinde metallurgical facilities on a trial basis.Capex was R1.4 billion, of which R1.2 billion was expansionary. NORTHAM Platinum said it was “well advanced” in developing its mine plan for Eland Platinum, the purchase of which from Glencore was made unconditional today.. Dunne said since rhodium production depended on palladium, and palladium on platinum production, it was inevitable that “platinum will have its day”. A total of R2.7 billion will be spent in the year to June. 7,500.00. It was capitalised at R60bn as of close of business on March 4. But its approximately 100MW of electricity consumption is too small to justify the costs of building a large-scale solar PV plant, as some other miners are planning. Its primary products are the three main PGMs: platinum, palladium and rhodium. "Please visit the official Government information portal for Coronavirus by clicking Our focus will be on safe, quality, long-life production, whilst creating sustainable long-term employment in the platinum industry. The Zambezi prefs, each of which is backed by one Northam share, are convertible to Northam shares in 2025. Zondereinde Northam platinum in Limpopo.Photo Supplied Northam to begin mining rhodium after concluding feasibility study for Kukama project By ANA Reporter Jun 26, 2019 By end-December, Northam had boosted its holding of Zambezi prefs to 22.9% from 2.6% at end-June 2019.Dunne told a media and analysts presentation in Johannesburg on Friday that when Northam held 50% of the Zambezi prefs the structure would be completely de-risked. During the the Nineties, Northam Platinum – then 78%-owned by GFSA – was the recipient of several rights issues owing to the cost of mining at its then relatively deep levels. The palladium price is also expected to continue rising from its current level of about $2 650/oz. But its approximately 100MW of electricity consumption is too small to justify the costs of building a large-scale solar PV plant, as some other miners are planning. Platinum makes up about 60% of Northam’s sales basket but contributes about 30.8% of total revenue. These operations is still treating small batches of salvaged catalytic converters at the Zondereinde metallurgical facilities on a trial basis.Capex was R1.4 billion, of which R1.2 billion was expansionary. 1924.90. “That would enable us to make large inroads in a short time into buying the prefs and then take other cash allocation decisions,” he said.The group mined 306 738oz of equivalent refined 4E PGMs from its own operations in the six months to December, including a contribution of 15 921oz from the Eland Platinum Mine, which was restarted in June 2019. The current low price of platinum gives the metal a clear investment case, says Northam Platinum CEO Paul Dunne.
The mining plan for Eland, which has a relatively high proportion of rhodium in its prill split, is currently being revised after the recent conditional purchase of the adjacent Maroelabult Mine.The US recycling operations made an operating loss of R9 million. A total of R2.7 billion will be spent in the year to June. The palladium price is also expected to continue rising from its current level of about $2 650/oz. Toll refining for PGM concentrate takes place under contract with WC Heraeus in Germany and is delivered on a weekly basis to Heraeus' Hanau facility where platinum, palladium, rhodium, gold, silver, ruthenium and iridium are all separated. JOHANNESBURG - Mining company Northam Platinum said on Wedneday operations at the Kukama shaft situated at its Eland mine complex would recommence in the new financial year after the successful conclusion of a feasibility study for the project.Northam purchased a 100 percent interest in the Eland mine situated in Brits in North West province from Glencore Operations South Africa in 2017 for R175 million.
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