Northam's Zondereinde mine
JSE-listed platinum group metals producer Northam Platinum expects to report a more than 220% year-on-year increase in its normalised headline earnings for the financial year ended June 30, to about R1.3-billion.
The company attributed the higher earnings to a solid operational performance from its Zondereinde and Booysendal mines, as well as to contained unit cash costs and a higher basket price.
Northam produced a record 519 954 oz of platinum, palladium, rhodium and gold in the financial year under review, with output 7.4% higher than that produced in the prior financial year.
The company expects its headline earnings a share to be between 14.8c and 16.8c, which reflects an increase of between 107.4% and 108.4% year-on-year.
The company will release its financial results on or about August 23.