Northam Platinum's performance and future outlook amid PGM market challenges

RECENT platinum group metal price appreciation is offering some relief to the PGM sector, but it is still not yet at a level to support sustainable mining across the industry, and certainly not the much-needed development of new operations, according to Northam Platinum CEO Paul Dunne.

- EDWARD WEST

“We are in the envious position of controlling high-quality, well-capitalised and long-life assets,” he wrote at the release of Northam Platinum's results for the year to June 30, on Friday.

Dunne said the PGM market had tightened, and their view remained that the factors underlying this were fundamental and unlikely to correct in the medium term.

The company declared a R2 a share final dividend for the year, which Dunne said reflected their confidence in the future of the group. The final dividend brought the dividend payout for the year to R2.15 cents, which was 26.5% more than what was paid out the previous year.