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The agreement secures five years of stability at Zondereinde achieved through a respectful and constructive engagement process.
PGM miner Northam has achieved a record operating profit of R2.4 billion for the financial year ended 30 June 2019 – representing a 192.7% increase from the previous corresponding period which totalled R823 million.
Northam advises that wage negotiations at its Zondereinde mine with the National Union of Mineworkers have been concluded. The three-year agreement provides for increases in basic wages for entry level underground employees of R1 000.00 in the...
Both Zondereinde and Booysendal recorded healthy cash margins for Northam despite difficult market conditions and higher operating costs.
PGM miner Northam has secured a new R1 billion two-year unsecured revolving credit facility to see it through a capital intensive period which includes the delivery of a major new mine at Booysendal.