The first material from Northam Platinum’s recycling business in the US arrived in Durban a few days ago, marking the start of a careful foray into an increasingly important aspect of the global platinum market. Northam CEO Paul Dunne is at pains to point out this was a "trial shipment" of recycled platinum group metals (PGMs) from the A-1 Specialised Services it bought out of a liquidation process in the US during 2017. Northam has stated its ambition to grow the largely mothballed business in Pennsylvania to 50,000oz of PGMs a year within 18 months and the first shipment was an indication it has gingerly started on this path. Dunne declined to say how many ounces of PGMs were in the first shipment, which will be processed at the smelting complex near its Zondereinde mine near Thabazimbi. Asked about the need for an injection of capital into the business, Dunne said the plant and infrastructure in Pennsylvania did not need any investment but the business would need working capital....

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