Make Kitco Your Homepage

Northam Platinum flags wider mid-year headline loss

Kitco News

JOHANNESBURG, Feb 9 (Reuters) - South Africa's Northam Platinum Ltd 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 Dec. 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 Feb. 23.

(Reporting by Nqobile Dludla; editing by Jason Neely)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.