The company also announced a dividend of 292 cents per share.

Palladium has trounced its fellow major precious metals platinum and gold over the last few years.

Hole CL21-004 from the Current Lake deposit infill program intersected 13 m grading 0.96 g/t palladium and 1.03 g/t platinum.

The metal used in catalytic converters fell for a third day as the spread of the delta strain punctures the narrative of a rapid global recovery.

Company revenue in the six months to June 30 rose 33% year on year to $8.9 billion.

The precious metals miner said lower outstanding debt, resulting in a decrease in finance costs had also contributed to the profit increase.