Northam Platinum has reported a 20 per cent fall in production in the year to the end of June.

It follows a six-week strike by workers at its Zondereinde mine in September and October 2010, which had a "major negative impact" on the annual results.

Sales of 4E platinum group metals (pgms) slipped 19.8 per cent from the previous financial year, down from 395,879 oz to 317,392 oz.

Total ounces of 4E pgms produced also fell sharply, from 321,475 oz to 250,110 oz, a drop of 22.2 per cent.

Meanwhile, the firm is reporting that the start-up of construction and development at the new Booysendal mine on the eastern limb of the Bushveld Complex is on track.

"Good progress has been made with reducing project risk at Booysendal following on the regulatory approvals obtained for the mine, notably a new order mining right, and a water use licence, enabling us now to fast-track the construction and development, " said Northam chief executive Glyn Lewis.

Production at this project is due to commence in the third quarter of 2013.

Source:

Northam earnings down, costs a concern (18/08/11)

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