Johannesburg, South Africa — 08 April 2013 – Northam Platinum Limited (Northam) “’ an independent, mid-tier, integrated platinum group metals (PGM) producer listed on the JSE “’ has lost R46.2 million in revenue because of an underground sit-in by rock drill operators at its Zondereinde mine in the Limpopo province of South Africa.
Fin24 quotes the PGM miner as saying in a statement that production at its Zondereinde mine has been interrupted since April 2‚ leading to a loss of 120kg of metal.
“An estimated 120kg or 3,900oz of metal in concentrate (3PGM+Au) production has been lost‚ translating into revenue losses of about R46.2 million‚” the statement read.
The statement added that Zondereinde’s rock drill operators were refusing to drill while underground.
“Zondereinde’s management team has constituted a consultative forum and is engaging with employee representatives in an attempt to resume operations as soon as possible‚” the company said.
Northam, which is one of the country’s smaller platinum producers, managed to escape last year’s violent labour unrest unscathed.
Source: Fin24. For more information, click here.