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Announcements 2026
- 14 Jan 2026
Northam reports an increase of 3.7% in total equivalent refined platinum group metals (“PGMs”) produced from own operations, and an increase of 14.8% in chrome concentrate production, for the 6-month period ended 31 December 2025 (“H1 F2026”), compared to the corresponding 6-month period ended 31 December 2024 (“H1 F2025”).
Key production metrics from own operations for H1 F2026 compared to H1 F2025 are as follows:
| H1 F2026 | H1 F2025 | ||
|---|---|---|---|
| PGM production | oz 4E | oz 4E | % variance |
| Equivalent refined metal production from own operations at Zondereinde | 170 262 | 165 076 | 3.1 |
| Concentrate production from own operations at Booysendal | 261 148 | 256 759 | 1.7 |
| Concentrate production from own operations at Eland | 44 842 | 37 488 | 19.6 |
| Total equivalent refined metal production from own operations | 467 818 | 451 213 | 3.7 |
| Chrome concentrate production | tonnes | tonnes | % variance |
| Production at Zondereinde | 241 454 | 242 402 | (0.4) |
| Production at Booysendal | 414 289 | 358 833 | 15.5 |
| Production at Eland | 167 016 | 115 387 | 44.7 |
| Total production | 822 759 | 716 622 | 14.8 |
Equivalent refined PGMs from third parties amounted to 83 448 oz 4E (H1 F2025: 59 743 oz 4E), representing an increase of 39.7%.
Our operations performed well. Zondereinde is benefitting from logistics decongestion as a result of the ongoing shift of UG2 stoping from the western to the higher-yielding eastern portions of the mine, as well as an increase in mining productivity arising from focussed Merensky stoping in the Western extension. Booysendal continues to focus on productivity and efficiency gains. Eland is making positive progress in its ramp-up programme with improvements achieved in both square metres and tonnes mined.
At Zondereinde, the ramp-up of stoping continues within the Western extension section. Equipping of 3 shaft for personnel and material transport, as well as the provision of services, is nearing completion. Reaming of 3a ventilation shaft also continues. Both shafts are scheduled for commissioning during the first quarter of the 2026 calendar year. This will deliver sustainable efficiency benefits to mining in the Western extension. Pilot drilling of 4 shaft, which will be a rock hoisting shaft, is complete, and reaming has commenced.
At Booysendal, decline development is continuing in order to increase mineable reserves and operational flexibility.
At Eland, ore production from underground mining is ramping up. In addition, the reconfiguration of the mine’s ventilation circuit has enabled multi-blast conditions, which allow accelerated decline development rates. Focus remains on strike and raise development in order to increase mineable reserves. The ongoing ramp-up of stoping is improving feed volumes and grades to the concentrator, and further enhancements to the concentrator circuits are yielding additional benefits to PGM and chrome production.
At the group’s metallurgical facilities, upgrades to the base metal removal plant have been completed and the new furnace slag concentrator is processing slag inventory at a satisfactory pace.
Johannesburg
14 January 2026
Corporate Advisor and Sponsor to Northam Holdings
One Capital
Corporate Advisor and Debt Sponsor to Northam Platinum
One Capital