Northam Platinum is speeding up plans to get to its target of 1-million ounces of platinum group metals a year as various projects gather momentum to take advantage of what is seen as an improving market for the metals. As the market for palladium shows signs of settling into a long-term deficit, leading to potential substitution by platinum in autocatalytic converter production for petrol engines, pushing up prices for both metals and their sister metal rhodium, Northam’s board is considering a range of projects to further increase production. The overarching strategy in Northam is to pump out cash and drive up its share price ahead of the 2025 repayment of its empowerment deal, said CEO Paul Dunne. Northam operates the Zondereinde mine, the world’s deepest platinum mine, and it is busy building a large mining complex on its Booysendal property. Northam bought Eland mine and concentrator for R175m from Glencore, and added a suspended PGM recycling business in the US to its portfoli...

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