Northam increases platinum group metals production in 2023
Northam Platinum, a major South African producer of platinum group metals, has announced that for the 30 June 2023 financial year (FY2023), the group’s total equivalent refined metal from own operations increased by 13% to 800,775 oz 4E (FY2022: 716,488 oz 4E).
The company’s total equivalent refined metal production from own operations including refined metal purchased from third parties increased by 19.5% y-o-y to 930,182 oz 4E in FY2023 (FY2022: 778,449 oz 4E).
In a statement, the company said that “significant” production growth has been achieved during FY2023 as a result of focused execution of the group’s growth strategy, which “continues to deliver against set targets.”
Northam added that challenges remain, particularly in respect of high mining inflation and the potential for further and possibly more severe Eskom load curtailment events.
However, the company pointed out that its growth and operational diversification programmes remain on-track and “continue to demonstrate the value of our counter cyclical investments and execution capacity across the group, as well as our flexibility in dealing with these challenges.”
South Africa’s Northam Platinum is a primary integrated producer of platinum group metals. All operating mines and recycling operations are wholly owned. The company’s target is to produce 1 million oz 4E annually.
