Northam Platinum’s strategy of buying additional mines, as its strives to become a 1-million ounce a year platinum group metals producer, netted it Glencore’s Eland Platinum mine for R175m cash.
Northam Platinum Mining News
Consolidation in South African's platinum mining sector continued on Friday with Lonmin's decision to buy Amplats' stake in the Pandora platinum mine.
Workers at Northam Platinum put down their tools. Others may follow.
South Africa's Northam Platinum (NHMJ.J: Quote) said on Wednesday it would sell part of the mineral rights for its Booysendal property to Aquarius Platinum (AQP.L: Quote) for 1.2 billion rand ($180.6 million). Northam said Aquarius would buy the mineral rights attached to the southern part of Booysendal, which is adjacent to Aquarius' own Everest mine.
Northam Platinum will resume operations at its Zondereinde mine in South Africa on Thursday after a worker was killed.