Low PGM prices halve Northam’s profit despite robust output
HEPS for the first half are expected to be 44.1%-54.7% lower year on year
13 February 2025 - 11:17
Northam Platinum expects to report a more than 50% decline in operating profit for the six months ended December, as low platinum group metals (PGM) prices continued to take their toll.
Northam, which operates three mines in SA and is valued at about R47bn on the JSE, said on Wednesday that as a largely fixed cost business, its best defence against persistently low PGM prices was to shift down the industry cost curve by efficiently raising production...
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