Northam opts out of dividend despite higher sales, production and profit
Platinum group metals producer says the money is needed for expansion and its offer for RBPlat
Northam Platinum withheld an interim dividend despite higher production, sales and profit, saying it remains at a “critical juncture” in expanding operations, including its Zondereinde and Eland mines over the next two years and an offer for Royal Bafokeng Platinum (RBPlat).
Earlier in March rival Impala Platinum (Implats) withdrew (https://www.businesslive.co.za/bd/companies/mining/2023-03-09-northam-gets-regulator-approval-to-proceed-with-rbplat-offer/) its objection to the increased cash component in Northam’s offer, tabled in December, to take control of RBPlat. The two mining companies have been slugging it out to gain majority control of RBPlat’s coveted ore body...
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