Sharenet Sites 
Sharenet Sites
Voluntary production update
NORTHAM PLATINUM HOLDINGS LIMITED NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa Incorporated in the Republic of South Africa
Registration number: 2020/905346/06 Registration number: 1977/003282/06
Share code: NPH ISIN: ZAE000298253 Debt issuer code: NHMI
("Northam Holdings" or, together with its subsidiaries, Bond code: NHM016 Bond ISIN: ZAG000167750
"Northam" or the "group") Bond code: NHM021 Bond ISIN: ZAG000181496
Bond code: NHM022 Bond ISIN: ZAG000190133
Bond code: NHM023 Bond ISIN: ZAG000190968
Bond code: NHM025 Bond ISIN: ZAG000195934
Bond code: NHM026 Bond ISIN: ZAG000195942
("Northam Platinum")
VOLUNTARY PRODUCTION UPDATE
Northam reports an increase of 3.7% in total equivalent refined platinum group metal (PGM) produced from own operations
and an increase of 7.5% in chrome concentrate, for the 6-month period ended 31 December 2024 (H1 F2025), compared
to the 6-month period ended 31 December 2023 (H1 F2024).
Key production metrics from own operations for H1 F2025 compared to H1 F2024 are as follows:
H1 F2025 H1 F2024
PGM production oz 4E oz 4E % variance
Equivalent refined metal production from own operations at Zondereinde 165 076 160 188 3.1
Concentrate production from own operations at Booysendal 256 759 250 004 2.7
Concentrate production from own operations at Eland 37 488 32 574 15.1
Total equivalent refined metal production from own operations 451 213 434 977 3.7
Chrome concentrate production tonnes tonnes % variance
Production at Zondereinde 242 402 229 679 5.5
Production at Booysendal 358 833 382 867 (6.3)
Production at Eland 115 387 54 146 113.1
Total production 716 622 666 692 7.5
Equivalent refined PGM from third parties was 59 743 oz 4E (H1 F2024: 83 107 oz 4E), a decline to be expected given the
current PGM sector dynamics.
The group continues to grow PGM production from own operations towards our strategic goal of one million 4E ounces per
annum, whilst preferentially targeting mechanised mining from quality UG2 orebodies, and concurrently reducing our overall
risk profile through operational, geographical, metallurgical and revenue diversification. Our focus on mining of UG2 ore has
also yielded substantial value through sales of chrome concentrate. This strategy continues to reinforce our position at the
lower end of the sector cost curve and, importantly, also doing so on a positive risk-adjusted basis, thereby ensuring the
sustainability of our long-life, quality assets.
PGM production from Zondereinde remains on target, despite a stoppage during November as a result of a failure of a
primary Eskom feed substation. Chrome concentrate production has benefitted from increased UG2 milling and further
incremental improvements in chrome recovery. The commissioning of 3 shaft, where development and equipping continues,
will positively impact production and efficiencies at Zondereinde over the medium to long-term.
Above target PGM production from Booysendal once again demonstrates the intrinsic quality of this operation and
Northam's continued efficient unlocking of the orebody's inherent long-term potential. Preferential milling of Merensky ore,
a singular intervention to reduce stockpiles that were built up over time, has temporarily reduced production of chrome
concentrate at Booysendal.
The ramp-up of Eland continues but was marred by two tragic fatal accidents, the first involving a barring incident which
occurred during shotcreting operations in a development tunnel, and the second related to a conveyor belt engineering
incident occurring during a maintenance procedure. In spite of these events and the resultant stoppages, stoping production
remains on target, with an increase in run of mine UG2 ore milled. This, together with upgrades to both the PGM and chrome
concentrators, led to improved recoveries and consequently higher production of PGM and chrome concentrate.
Our full year production guidance in respect of own operations remains unchanged, notwithstanding volatile and challenging
market conditions impacting the entire PGM sector.
Johannesburg
13 January 2025
Corporate Advisor and Sponsor to Northam Holdings
One Capital
Corporate Advisor and Debt Sponsor to Northam Platinum
One Capital
Date: 13-01-2025 05:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
