Proceeds will be used for a prefeasibility study on the River Valley PGM project in Ontario.

Iridium, one of the rarest precious metals and mined as a byproduct of platinum and palladium, has surged 131% since the start of January.

The company said that it would buy back all preference shares from its Black economic empowerment vehicle, Zambezi Platinum, four years ahead of its 10-year maturation date.

Group also proposed minimizing Nornickel's final dividend payment for 2020.

Company has shut down a metallurgical processing facility in Russia’s border region which had been the area’s main source of sulphur dioxide emissions.

Northam said the dollar basket price of the main minerals it mines surged by nearly 50%.

After a decade in the doldrums, South Africa’s key platinum industry reported windfall profits last month as supply deficits pushed palladium and rhodium to record highs.