Modern Mining September 2020

MINING news

Record year for Northam despite COVID-19 challenges

Northam Platinum has issued its annual results for the year ended 30 June 2020, reporting record revenue of R17,8-billion and record operating profit of R5,3-billion. This is despite an estimated COVID-related production loss of 108,7 koz 4E and a direct cost estimate of approximately R1-billion. Speaking to the investment community, chief executive Paul Dunne commented on the significant impact of the COVID-19 pan- demic. “At our operations we have lost five employees to the virus, one of these being a contractor employee. We recognise that premature and unexpected loss of life can have a devastating impact and our sincere condolences go out to the families of the deceased. “Our operations were badly affected by the national lockdown and phased restart. It is testament to the efforts of mine man- agement, working closely with organised labour and the regulators, that we limited this impact, restarting operations in a safe and sustainable manner.” As a response to the pandemic, Northam

As a response to the COVID-19 pandemic, Northam has prioritised the health and well-being of its employees and host communities.

has prioritised the health and well-being of its employees and host communities, and developed an action plan to minimise the social and economic impacts, which com- prised: paying employees and protecting their jobs; implementation of comprehen- sive health measures and safety protocols to reduce the potential for infection; driving towards operational normalisation, main- taining a focus on safe and sustainable

production – Booysendal and Eland are back at full production and Zondereinde is getting there; and managing the compa- ny’s cash position by trimming capex and restructuring our DMTN programme. The direct cost estimate of COVID‑19 is approximately R1-billion. In order to assist with COVID-19 relief efforts Northam donated funds to the group’s two commu- nity trusts. 

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