Northam Platinum to pay record R2.8bn interim dividend

NORTHAM Platinum declared a record R2.8bn interim dividend following a strong recovery in headline earnings for the six months to end-December.The year-on-year improvement was driven by vastly improved metal prices from last year partly related to “speculative froth”, according to Paul Dunne, Northam CEO.Northam will pay shareholders R7 per share after posting headline earnings of R15,24/share for the six month period compared to 61 South African cents per share in the corresponding period of the previous financial year.Dunne, who expressed a note of caution in August last year when the recovery in platinum group metal prices was underway, said today that: “Despite some recent speculative froth, due to geopolitical turmoil, our view remains that the underlying market factors driving pricing are fundamental”.“While this should support the much-needed development of new operations, the extended timelines for mining development mean that primary supply of PGMs will continue to fall, and thus current prices are likely to remain firm in the medium-term,” he added.The post Northam Platinum to pay record R2.8bn interim dividend appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.comWeiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com