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Northam Platinum flags wider mid-year headline loss

Miner expects a headline loss per share of 77.6 to 90.5 cents.

South Africa’s Northam Platinum said on Friday it expects a wider mid-year loss despite its Zondereinde and Booysendal mines achieving operating profits.

It expects a headline loss per share of 77.6 to 90.5 cents for the six months which ended on December 31 versus a loss of 64.7 cents a year earlier.

“The anticipated loss is attributable to the Zambezi Platinum Limited preference share dividends, which are consolidated in the group’s results,” the miner said in a statement. 

Northam said it expects both of the group’s operating mines, Zondereinde and Booysendal, to record an operating profit.

The company is scheduled to report its earnings on February 23.

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