PGM producer Northam expects FY basic earnings to fall 70% - 80%; notes ‘volatile' metal markets

- Northam Platinum, a major South African producer of platinum group metals, announced today that for the 30 June 2023 financial year , the group's total equivalent refined metal from own operations increased by 13% to 800,775 oz 4E .

In a statement, the company said that “significant” production growth has been achieved during FY2023 as a result of focused execution of the group’s growth strategy, which “continues to deliver against set targets.” Northam also reported a 16.1% increase in sales revenue to R39.5 billion , notwithstanding a 6.9% decrease in the 4E ZAR basket price to R37,488/oz 4E ; a 3.8% increase in gross profit to R15.4 billion ; and a 0.2% increase in EBITDA to R16.5 billion .

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