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South African platinum producer expands output
South Africa’s Northam Platinum has reported a production of 571,843 oz for 2017, an increase of 4.5% compared with a year earlier.
"This follows a strong operational performance from the Zondereinde mine which increased production by 7.0% year-on-year to 348 888 oz 6E of equivalent refined metal," the miner said in a statement. "Owing to the group’s mining capacity exceeding its processing capacity before and during the current financial period, there has been an inventory build-up. The bulk of the excess inven-tory, which is estimated at 170 000 oz, is expected to be processed through the expanded smelter complex in F2019."
Northam Platinum says its "growth, diversification and optimisation strategy is on track with good progress being made in the develop-ment of the Booysendal South mine and at Zondereinde."
The company says it is a platinum group metal (PGM) producer with two primary operating assets, Zondereinde and Booysendal mines, in South Africa’s Bushveld Complex.