NHM
NHM
NHM - Northam - Update on smelter operations
NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1977/003282/06)
Share code: NHM
ISIN code: ZAE000030912
("Northam")
Update on smelter operations
Further to the announcement issued by Northam on Friday, 11 May 2012 advising of
a smelter run-out at its Zondereinde mine, and following an assessment of the
associated damage to the smelter, Northam management has advised that it is
implementing plans to rebuild the smelter as soon as is practicably possible.
The rebuild, originally scheduled for the next financial year, could take up to
four months to complete. Northam is currently in discussions to secure
alternative smelting services in order to contain the impact on the company.
Commensurate with the lower sales volumes, revenues for the financial year
ending 30 June 2012 are likely to be some R300 million lower than anticipated
owing to the interruption to metals processing in the last two months of the
year. These revenues should be realised in the next financial year when the
metal will be sold.
Mining and concentrating activities are continuing at the Zondereinde mine.
Johannesburg
15 May 2012
Sponsor
One Capital
Date: 15/05/2012 14:00:09 Produced by the JSE SENS Department.
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